Amasis makes takeover bid for Alfa Plam

Belgrade-based Amasis, which operates as part of A Grupa, has made a takeover bid for the 75-percent stake in Alfa Plam. Amasis currently owns 24.99 percent of shares in this Vranje-based manufacturer of stoves and ranges.

By the way, Amasis made the first takeover bid for Alfa Plam back in October 2010, when it held a 48.5-percent stake in this company, but that bid has never been approved by the Securities Commission, which disputed the way in which Amasis acquired nearly a half of Alfa Plam. After that, Amasis sold close to 24 percent of shares and kept the stake of 24.99 percent in Alfa Plam.

The price of Alfa Plam shares on the Belgrade Stock Exchange has been oscillating around the level of RSD 5,300 apiece for a long time now, and the largest number of shares in the previous period have been repurchased by the company.

With the current share price, the company's market cap amounts to RSD 927.9 million (EUR 8.3 million). Alfa Plam generated a RSD 4 billion business revenue in 2011 and the net profit of RSD 480.6 million.