Utma Comerc launches takeover bids for Napred and Napred Razvoj

Utma Comerc has launched takeover bids for companies Napred and Napred Razvoj, which were formed after the Assembly of then single construction company Napred made a decision in early 2010 to found the new joint-stock company Napred Razvoj.

Utma Comerc wants to take over the remaining 13.5-percent stake in Napred Razvoj at the price of RSD 2,291 per share. This offer will be open between October 15th and November 5th, and so will Utma Comerc's offer to acquire 13.5 percent of Napred shares at the price of RSD 694 a piece.

Napred reported the net loss of RSD 660 million last year, whereas Napred Razvoj, which was just starting its life as an independent company last year, registered a RSD 17.1 million loss in 2011.

By the way, this company drew the attention of a broader public last summer, when it increased its ownership stake in the largest domestic construction company Energoprojekt to more than 12 percent.