Austrian Asamer Holding offer for Bosnian cement plant

Austrian Asamer Holding offer for Bosnian cement plant
Published: 02 August 2006

ALAS International, a subsidiary of Austrian building materials producer Asamer Holding, on Tuesday made a buyout offer on the Sarajevo Stock Exchange to acquire 100 per cent of its Bosnian cement plant.

ALAS International owns 94.4 per cent of the shares in the Lukavac cement plant and is offering to buy out the remaining 5.6 per cent stake, equal to 83,161 shares, at the par value of 100 marka ($65.30/51.20 euro) per share, SASE said in a statement.

The buyout offer will be valid between August 1 and 31, it added.

ALAS International bought a 51 per cent stake in the Lukavac cement plant in 2001 for EUR20m (US$25.5m) and increased its stake gradually through buying further shares from Bosnian privatisation investment funds and small shareholders.

The plant, located in northeastern Bosnia, posted a net profit of 7.3m marka for 2005, up 34.7% on the year, on sales of 53.6m marka.