SeeNews reported that North Macedonia's Liberty AD in a bourse filing on informed that its majority shareholder Liberty Holdco Galati & Skopje Limited, owned by London-headquartered Liberty House Group, has launched an offer to buy the shares it does not already own in the steel manufacturer. The offer refers to 2,227,750 shares with voting rights in Liberty AD, representing a 6.76% stake in the company, and values each of the shares at EUR 0.6. Liberty Holdco Galati & Skopje has not set a success threshold for its buyout bid. The offer will be valid until January 12.
North Macedonia's securities and exchange commission, on December 14,said that it has given the green light to Liberty Holdco Galati & Skopje to submit an offer to acquire full ownership of Liberty AD. Liberty Holdco Galati & Skopje became a majority shareholder in the Skopje based firm in July 2019. Previously, the firm was owned by Luxembourg-based steel producer ArcelorMittal.
LIBERTY Skopje is one of the largest steel product manufacturers in the Balkans offering cold rolled and galvanized coils & sheets as well as pre-painted coils mainly for the construction and the general industrial sectors across the Balkans and South East Europe markets. Starting from hot-rolled coils as input material, the plant owns all the necessary equipment required to carry out a full range of production techniques: pickling, rolling, annealing, coating and packing.