Source: Sinteza Invest Group | Wednesday, 29.12.2010.| 11:51
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Banja Luka based company 'Damjan' to take over 'Belgrade bus station' for 2.2 million EUR

Banja Luka based company, "Damjan doo" has announced a takeover bid for "Belgrade bus stations" (BAS), whose biggest shareholder is the state.

"Damjan doo" operates in the area of hotel management.

Over Shareholders and PIO fund, the state owns a 40.3% stake while the rest are in the hands of minority shareholders. Bidder's conditional offer announced that it intends to buy at least 40.3% of shares, how much the state owns, and the bid will succeed only if it is deposited at least that number of shares.

The bidder is obliged to pay 760 dinars per share, and at this price the market capitalization of BAS is 236.5 million dinars (about 2.2 million EUR).

In the past year, BAS has recorded operating income of 1.02 billion dinars and the limited net gain. This company owns a few buildings along the river Sava, and 1.6 hectares of land on which these buildings are located.

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