Amasis bought another 24% of shares of Alfa Plam - Bid for takeover is next

The passions concerning Alfa Plam and the procurement of office space by the biggest shareholder have not been calmed yet and this company is again in the focus of the investment public.

On the last trading day, on Friday, nearly 24% of the shares of this company were purchased on the Belgrade Stock Exchange by the company's leading shareholder Amasis, which now has the ownership share of 48.5%. Pursuant to the Law on Acquisitions, this company, which operates within Belgrade-based Alco Group, will have to submit a public bid for takeover of the remaining shares, which will probably be done because the company would otherwise be left without the voting rights of the newly acquired shares. The seller in this big transaction was A Auto Vanero, which used to bid for the shares of Alfa together with the members of Alco Group although it has never been the Group's official part.

Let us remind that Amasis started buying Alfa's shares more significantly in late 2008 and early 2009, at the time of the stock exchange crisis, thus acquiring the biggest number of shares at the prices ranging between 5,000 and 6,000 dinars. After this company acquired nearly 25% of the shares, A Auto Vanero also started purchasing the same shares and acquired over 24% of the shares of the Vranje-based company in a relatively short time. In a recent statement for daily paper Novine Vranjske, Alco Group president Miroljub Aleksic denied the connection with the other largest shareholder saying: "I have met him several times on the stock exchange when we were buying the shares of individual companies, always at favorable prices, but I really did not know anything about their intentions for Alfa Plam". However, the fact that this investor from the distant islands has been mainly appearing in the joint-stock companies controlled by Aleksic (Privredna banka, Tipoplastika, etc.) and that he has never bought any other liquid securities on the Belgrade Stock Exchange may speak more about his connection with Alco Group.

We now need to wait and see what price Amasis plans to offer other shareholders in the bid for takeover and whether the Securities Commission will approve the offer for takeover at the price formed in the Friday transaction. Certainly, in a possible bid for takeover, the position of the biggest minor shareholders will also be significant, primarily Swedish East Capital and Austrian Erste, because their decisions will also be an excellent test of the level of trust (disappointment) in the domestic capital market.

Alfa-Plam doo Vranje

Amasis d.o.o. Beograd

A Auto Vanero d.o.o. Beograd

Privredna banka a.d. Beograd

Tipoplastika d.o.o. Gornji Milanovac

Beogradska berza a.d. Beograd

East Capital Sweden

Erste Bank a.d. Novi Sad

Alfa plam

Amasis

Alco Group

A Auto Vanero

Privredna banka

Tipoplastika

Belgrade Stock Exchange

East Capital

Erste Bank

Miroljub Aleksic

Law on acquisitions