East Point Metals acquires copper rolling mill shares

Cyprus-based East Point Metals has succeeded in acquiring a 12.29 pct stake in the Sevojno copper rolling mill and now owns 93.16 pct of the company's shares, the Belgrade Stock Exchange (BELEX) announced Wednesday.

26 Februar 2020 13:14

SEVOJNO - Cyprus-based East Point Metals has succeeded in acquiring a 12.29 pct stake in the Sevojno copper rolling mill and now owns 93.16 pct of the company's shares, the Belgrade Stock Exchange (BELEX) announced Wednesday.

Under a bid that closed on February 24, East Point Metals paid 2,700 dinars for each of the 79,039 purchased shares.

Before the bid, a state-owned shareholders' fund was the largest stakeholder in the company with 9.7 pct shares.

After exceeding the 90 pct threshold, East Point Metals may now opt for a compulsory purchase of the remaining shares.

Belgrade-based Sanskrit has a 29.3 pct stake in East Point Metals, which is the owner of the German company DP Handel GmbH.

(1 euro = 117.5 dinars)

Photo: Sevojno copper rolling mill

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