Czech company UDI to take over Duga, the biggest paint manufacturer in Serbia

The Czech company UDI Resort announced its bid for the takeover of an 89.7% stake of the Serbian paint and coatings manufacturer Duga on April 25 at the Belgrade Stock Exchange.

UDI Resort intends to acquire 279,434 shares of the total of 311,521 shares issued.

UDI Resort has to file a request for the approval of the announcement of the takeover bid with the Securities Commission within 15 days and submit the takeover bid immediately or a day after receiving the opinion from the Securities Commission at the latest.

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The biggest stakeholder in Duga is the Serbian company Belfin, owned by the Austrian company Theia Beta Management, with a 49.9% stake, followed by Akcionarski Fond Beograd (23.3%), whereas Duga itself owns 10%, according to the company’s 2018 financial report.

UDI Resort was founded in October 2018 and is owned by the Czech resident Radek Mensik, according to the Business Register of the Czech Republic. 

(B92, 25.04.2019)



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