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Slovenian Javna Rasveta to buy 70% of Serbia's Elektroizgradnja.

MANews-(C)2009-2012

12 January 2012 - Javna Rasveta, a Slovenian company engaged in building and maintaining public lighting systems, is to acquire 70.43% of Serbian cable manufacturer Elektroizgradnja after signing an agreement with Serbia's Privatisation Agency, Tanjug reported.

The Belgrade news agency was citing statements made during the media conference that followed the signing ceremony.

Under the terms of the agreement, Javna Rasveta is to pay about EUR730,000 (USD927,000) for the stake in Bajina Basta-headquartered Elektroizgradnja. In addition, the Slovenian company has committed to invest EUR600,000 in the coming three years, Tanjug said.

The first joint project has already been announced. It involves work on a EUR1.8m contract for the lighting system of the Strazevica tunnel near Belgrade, the news agency added.Country: , SerbiaSector: Machinery/EngineeringTarget: Elektroizgradnja Bajina Basta DOOBuyer: Javna RasvetaDeal size in USD: 927,000Type: PrivatisationStatus: Agreed

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Publication:M & A Navigator
Date:Jan 12, 2012
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