At the extraordinary Shareholders’ Assembly held on 28 March, shareholders of Montenegrin power utility EPCG have approved the launch of Pljevlja coalmine buyout bid.
EPCG will initiate a procedure for the acquisition of 5,064,443 shares of Pljevlja coalmine (100 % of the capital) at the price of 6.4 euros per share which was determined based on the report made by auditing company Deloitte, while it found that the method of voluntary takeover bid with elements of mandatory takeover bid would be the most efficient and most optimal method of the acquisition.
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Tags: acquisition, coal, coalmine, electricity, EPCG, financial, Montenegro, Pljevlja