Takeover bid made for Zvezda-Helios

A takeover bid has finally been made for Zvezda-Helios from Gornji Milanovac, more than a month after a letter of intent for the acquisition of shares of that company was published.

In cooperation with the current majority owner Helios from Slovenia, Austria's Remho Beteiligungs has made a takeover bid for the remaining 22.93 percent or 43,784 shares in Zvezda-Helios.

The takeover bid will be open between May 6 and 26. The share price the bidder promises to pay is RSD 9,599.34, which is the average pondered price determined on the basis of a report on trading in the organized market in the period January-April 2014, Sinteza Invest Group reports.

By the way, Remho is a member of the Ring group, with the holding company Ring International Holding AG, which is headquarterd in Vienna. Last year, Zvezda-Helios registered a decrease in business revenue by 8.6% (from 2.86 to 2.61 billion dinars) and slightly increased net profit - by 2.7 percent, from approximately 110 to 113 million dinars.

With the current share price of RSD 9,013 on the Belgrade Stock Exchange, the company's market cap is at RSD 1.7 billion (EUR 14.9 million).