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A Subsidiary of Kaolin AD Has Acquired a Serbian Deposit
The Management Board of Kaolin AD hereby has pleasure to advise of the successful closing of the acquisition transaction of 98.98 % of the Serbian Silica Sand Deposit Nemetala Valjevo Mine on the part of Yugo Kaolin – a 100 % subsidiary of Kaolin AD.
The transaction amounted to 80.2 mln. Serbian dinars (about EUR 974,000). The said transaction was effected through a takeover bid deposited with the Serbian Central Depository.
The aforesaid acquisition is part of Kaolin AD’s strategy to expand its market presence through subsidiaries on the dynamically developing markets in Southeastern Europe.
The transaction amounted to 80.2 mln. Serbian dinars (about EUR 974,000). The said transaction was effected through a takeover bid deposited with the Serbian Central Depository.
The aforesaid acquisition is part of Kaolin AD’s strategy to expand its market presence through subsidiaries on the dynamically developing markets in Southeastern Europe.