"Zekstra" to complete takeover of sewing company "Zemun"

Group for production and distribution of clothing "Zekstra" announced yesterday (April 2, 2008) that it intended to take over the package of another 29.9% of stocks of sewing company "Zemun" [ZMUN], of which market value is 1.47m RSD.

"Zekstra" took over 70.1% of stocks of "Zemun" on the auction in 2003, so that the takeover of 29.9% of stocks, which are now owned by minor stockholders, will make it the sole owner of that company.

"Zemun" has 2,738 stocks and they are present on the Belgrade Stock Exchange since October 12, 2007.

The price of stock of "Zemun" today is 1,800 RSD, and the company's market value, according to the data from the Stock Exchange, is 4.93m RSD. "Zemun" realized net profit in amount of 3.39m RSD in 2006 on the basis of incomes worth 8.5m RSD.

"Zekstra" was founded in 1978 and it deals with production of clothing. It also distributes "Diesel", "Max Mara" and "Max & Co" apparel in Serbia.

The owner of 95.91% of "Zekstra" is the CEO of that company, Dragan Đurić, and 4.1% is public-owned capital. "Zekstra" owns 85.15% of textile manufacturer "Novitet" [NOVT] from Novi Sad and 83.1% of stocks of Veterinarian Station Zemun [VETZ].