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Serbia’s Tiv Produkt launches buyout bid for Nikola Tesla EI

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Serbian company Tiv Produkt has launched a buyout bid for the 42.89% stake it does not already control in TV equipment maker Nikola Tesla Elektronska industrija [BEL:NKTS].

Tiv Produkt has offered to pay 1,250 dinars ($11.9/10.6 euro) per share to acquire the 33,021 shares it does not own in Nikola Tesla, Tiv Produkt said in a filing with the Belgrade Stock Exchange on Friday.

The deadline for acceptance of the buyout bid is April 30, Tiv Produkt said.

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Tiv Produkt increased its stake in Nikola Tesla to 57.1% from 2.8% in a block deal carried out on January 5, 2018. Back then, Tiv Produkt announced intentions to launch a buyout bid for Nikola Tesla Elektronska industrija.

Currently, Tiv Produkt currently owns 43,981 Nikola Tesla Elektronska industrija shares. Nikola Tesla has 77,002 shares with a nominal value of 500 dinars apiece listed on the Belgrade Stock Exchange.

Izvor; SeeNews

 

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