SERBIA: Knjaz Milos auction hits snag
The auction for a stake in Knjaz Milos has been delayed. Serbia's Privatisation Agency will now auction its stake in the drinks company on the Belgrade Stock Exchange tomorrow, two days later than originally planned.
"Due to some technical problems we have delayed by two days the sale of the state stake in Knjaz Milos on the stock exchange," a Privatisation Agency official told SeeNews.
The agency will offer 18,271 shares, or 12% of its stake in Knjaz Milos, at an auction on the Belgrade Stock Exchange. The government holds 41.7% of Knjaz Milos.
Late last year, UK-based hedge fund FPP Balkan Ltd. acquired around 58% of Knjaz Milos from minority shareholders. It first bought 25% at 17,200 dinars per share in September, and acquired another 33% at 23,000 dinars per share in December.
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