Napred submits official bid for Energoprojekt takeover – RSD 1,501 for each share

Napred Razvoj AD, along with GP Napred, Montinvest Properties, the Swiss company Jopag AG and Dobroslav Bojovic, has submitted an official bid for the takeover of the shares of Energoprojekt Holding.

As the summary of the bid published in Politika on July 10 says, the bidders are interested in taking over 7,070,467 shares of Energoprojekt, that is, a 64.68% stake in the company, at the price of RSD 1,501 per share. These are the remaining shares not already owned by the bidders.

At the moment, Napred Razvoj owns 24.49% of Energoprojekt's shares, GP Napred owns 0.09%, Montinvest Properties 5.18%, Jopag AG 5.13%, whereas Dobroslav Bojovic owns 0.43%.

The date of the opening of the offer is July 10, and it is valid until July 31, 2017. The payment, it is stated, would be carried out in cash exclusively.

As added, the bidder intends to improve the operations and keep the activities and the location of the target company. The development and the increased market participation will continue too through an improvement in activities to the end of emphasizing the quality of the services provided by the target company.

The bidder intends, it is said, to also work on enhancing the labor conditions and the financial standing of the employees and to invest in enhancing the knowledge and the skills of the employees.

Let us remind that the Securities Commission of the Republic of Serbia recently authorized the director of Napred Razvoj, Dobroslav Bojovic, as well as the other said companies, to publish the bid for taking over Energoprojekt and returned the right of vote in the company to Bojovic.

As the media have been reporting lately, the Energoprojekt management has been warning for several months now that Bojovic has started a hostile takeover of the company, and it is speculated that the “bait” is attractive land in Block 26, New Belgrade, which belongs to Energorpojekt.

Energoprojekt Holding a.d. Beograd

Napred razvoj a.d. Beograd

Napred a.d. Beograd

Montinvest Properties d.o.o. Beograd

Komisija za hartije od vrednosti Republike Srbije Beograd

Energoprojekt Holding

Napred Razvoj

GP Napred

Montinvest Properties

Jopag AG

Dobroslav Bojovic

Energoprojekt Holding takeover

Energoprojekt Holding purchase

Energoprojekt shares

Securities Commission of the Republic of Serbia