Slovene Retailer Becomes Majority Owner of Skopje-Based Saem

Velenje, 12 March - The Velenje-based retailer Era purchased, according to unofficial information, a 48.69-percent stake in Skopje-based company Saem, thus acquiring a single majority stake in this fairgrounds company. Shares were purchased from the Macedonian Agency of Privatisation and minor shareholders last week. The investment - estimated at DEM 5.8 million - is in accordance with the company's strategy to penetrate the former Yugoslav markets, Era said on Monday. The Slovene company intends to invest DEM 70 million in Saem in the next years.