Adcapital Montenegro buys 4.5% of aluminium plant KAP.

By bne IntelliNews September 15, 2011

Adcapital Montenegro has bought 4.54% of the capital of Montenegrin aluminium smelter KAP, national TV broadcaster RTCG reported citing information from the central depository. Sellers in the transaction were minority shareholders Fjord, which has decreased its stake in the company by 3.65% and Laderna International, which sold 0.7%. As recalled, 484,140 shares or 4.6% of the capital of KAP changed hands on Montenegro Stock Exchange (MSE) on Friday, Sep 9 for approximately EUR 1.58mn. KAP is the largest Montenegrin producer and exporter. It has been seriously affected by the global economic crisis and the unfavourable developments on the global metal markets, in particular. The plant reduced substantially its output in 2008 and 2009 and was forced to produce below its break-even point. The government acquired back from the Russian owner of the plant a 29.4% stake last year in exchange for state guarantees for KAP's loans worth EUR 131.7mn.

Notice: Undefined index: social in /var/www/html/application/views/scripts/index/article.phtml on line 259

Read in IntelliNews Pro

Get IntelliNews Pro

Adcapital Montenegro buys 4.5% of aluminium plant KAP.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro reports increased budget revenue in Q1.

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Follow Us On

Most Read

Reports

Adcapital Montenegro buys 4.5% of aluminium plant KAP.

Related Articles

Montenegro says to borrow EUR 220mn this year, down 12% than planned.

Montenegro reports increased budget revenue in Q1.

Mobile phone penetration in Montenegro drops to 155.5% in Feb 2013.

Follow Us On

Most Read

Reports

Cookies on the bne IntelliNews website