MVM Ltd. has signed a share purchase agreement on 17 March 2022 with the Serbian Maneks Group in connection with the acquisition of a 33.4% stake in Energotehnika Južna Bačka and Elektromontaža Kraljevo.

The two companies involved in the transaction are the leading energy utility construction companies in Serbia, with decades of experience and excellent references. This acquisition is a great opportunity for MVM Group to gradually increase its presence in Serbia and in the Western Balkan Region in line with its regional expansion strategy.

The transaction is expected to close in the second quarter of 2022.