BELGRADE (Serbia), September 13 (SeeNews) - Serbian company Aqua Mont Service has increased its stake in the capital of energy and hydropower facilities builder Hidrotehnika-Hidroenergetika [BEL:HDRT] to 77.6% from 70.1% as part of a buyout bid, Hidrotehnika-Hidroenergetika said.
Aqua Mont Service acquired 11,061 Hidrotehnika-Hidroenergetika shares, or 7.5% stake in the company's capital, the hydropower facilities builder said in a filing with the Belgrade Stock Exchange on Thursday.
Aqua Mont Service, owned by Serbian citizen Aleksandar Milosavljevic, launched the bid on August 13, aiming to acquire 44,137 Hidrotehnika-Hidroenergetika shares at a price of 1,119.38 dinars ($10.5/9.5 euro) apiece until September 2.
Hidrotehnika-Hidroenergetika is currently implementing projects in Serbia, Tunisia and Algeria. It has been operating at a loss since 2014. There has been no trading in Hidrotehnika-Hidroenergetika shares on the Belgrade Stock Exchange in the past three years.
(1 euro = 117.566 dinars)