Bulgarian mineral extraction and processing company Kaolin made a takeover bid on 8 January 2008 for Serbian asbestos and silica sand mine Rudnik Nemetala Valjevo, offering to pay CSD 10,665 (USD 190….
Bulgarian mineral extraction and processing company Kaolin made a takeover bid on 8 January 2008 for Serbian asbestos and silica sand mine Rudnik Nemetala Valjevo, offering to pay CSD 10,665 (USD 190.6/129.6 EUR) per share, the Serbian Central Securities Depository and Clearing House said. The bid values Rudnik Nemetala“s capital distributed in 7,520 shares at CSD 80.2 million. Kaolin, through its wholly-owned Serbian unit Jugo-Kaolin, seeks to acquire at least 96.0106% of Rudnik Nemetala“s share capital comprising 7,220 shares, according to the offer posted on the website of the securities depository. Shares in Rudnik Nemetala Valjevo have a par value of CSD 3,000. They last traded at CSD 1,100 on 12 December 2007 on the Belgrade Stock Exchange. Shareholders have until 28 January 2008 to respond to the offer from Kaolin. Serbian company Invest Izgradnja owns 89.6% of Rudnik Nemetala, which is based in the western Serbian town of Valjevo. Kaolin, which is 67.85%-owned by Bulgarian industrial and financial group Alfa Finance Holding, is the only producer of kaolin and silica sands in Bulgaria. It operates 12 mineral deposits and eight processing factories in Bulgaria, and five deposits and two factories in Bulgaria“s western neighbour, Serbia. The company has a subsidiary in neighbouring Romania and Ukraine. In December 2007, the company bought 100% of Albanian peer company M.I.D.