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.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

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

Montenegro's government said it decided on Thursday, March 21, to reduce to EUR 220mn from EUR 250mn the amount it plans to borrow this year for financing its budget spending and servicing ... more

Montenegro reports increased budget revenue in Q1.

Montenegro's budget revenue increased by 11.5% y/y to EUR 195mn in the period from January 1 to March 20 due to higher profit tax, social contributions and VAT inflows, news service ... more

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

Mobile phone penetration in Montenegro dropped to 155.5% at the end of February 2013, from 159.81% at end-Dec 2012 and 163.66% a year earlier, the latest figures of the telecommunications agency ... more

Follow Us On

Most Read

  1. Putin to skip Rio BRICS summit over ICC warrant as Xi signals no-show
    20 days ago
  2. Turkey yet to prove rare earth deposit has suggested “giant” potential despite reported processing talks with China
    10 months ago
  3. Uproar in Mongolia as development bank reveals scale of risky loans and NPLs
    3 years ago

Reports

Dismiss