British Motors Intends to Take Over Entire Globos Osiguranje

Belgrade-based British Motors (BM) has announced its intention to take over Globos Osiguranje, according to a document published on the Belgrade Stock Exchange.

British Motors, which currently owns 87.5% of Globos Osiugarnje's shares, says that, within 15 work days, they will file a request to the Securities Commission for the approval of the announcement of the offer and that the offer will be announced upon approval.

BM became the majority owner of Globos Osiguranje through the purchase of shares in early February, when 71.78% of the shares was bought in a block transaction for RSD 388 million.