This year, there was an unusually high number of acquisitions, that is, takeovers of large companies in Bosnia and Herzegovina (BiH).
Some of these acquisitions mean the entry of major global players into our market, while in other cases, it is domestic investors who are expanding.
These are the 8 largest takeovers that could have a significant impact not only on the further development of the acquired companies, but also on the entire sector and even the entire BiH economy.
1. ArcelorMittal
The company H&P d.o.o. Zvornik, a member of the Pavgord group, agreed this summer to purchase ArcelorMittal in Zenica and Prijedor. The owners of H&P d.o.o. Zvornik are Predrag Pavlovic and Ahmed Hamzic.
Predrag Pavlovic is the brother of Foca businessman Gordan Pavlovic, owner of the companies Pavgord, Alumina, Boksit Milici, etc. Ahmed Hamzic is a businessman with operations in BiH and Germany and a longtime business partner of Pavlovic.
ArcelorMittal Zenica was, for many years, the largest BiH exporter and had annual revenues of over 1 billion BAM. However, in recent years, the company fell into problems and operated at a loss. Still, it is one of the largest companies in BiH, employing around 2.000 workers.
2. Adriatic Metals
The company Adriatic Metals will be sold to the Canadian company Dundee Precious Metals. This news was first reported back in May, and it was later officially confirmed.
The deal is worth as much as 1.25 billion dollars, and shareholders of Adriatic Metals are expected to receive this amount in a combination of cash and shares.
The company Adriatic Metals is behind the launch of ore exploitation in Vares, which is considered the largest post-war investment in BiH. Recall that in the spring of last year, commercial processing and export of ore from the mine began, which significantly revived the town of Vares. The planned earnings of the investors from ore exploitation in Vares exceed 1 billion dollars.
Dundee Precious Metals Inc. is an international gold mining company headquartered in Canada with operations and projects in Bulgaria, Serbia, and Ecuador.
3. Telemach
BH Telecom is in the process of taking over the company Telemach in BiH and Montenegro. It is important to emphasize that, unlike the other takeovers mentioned here, this is not yet definitive. The decision is currently with the Competition Council of BiH. If this body approves the acquisition, BH Telecom and Telemach will proceed with finalizing negotiations. The outcome is currently uncertain.
If this acquisition happens, it is certain to be one of the largest takeovers in the history of BiH and will have major consequences on the telecommunications market, primarily the distribution of TV content.
4. Baupartner
Spanish building materials producer Molins and Greek company Titan Group took over 80 percent ownership in the concrete and steel producer Baupartner Lukavac.
Baupartner is best known as a company that builds business halls, factories, warehouses, etc. They have built some of the largest facilities in the region. This acquisition represents the entry of Spanish and Greek companies into the BiH market. The remaining 20 percent ownership will remain in the hands of the founders.
Baupartner was founded in 2010 and currently operates in BiH, Croatia, and Serbia. The company, which currently employs 280 people, specializes in the design, production, and assembly of customized prefabricated structures. Baupartner last year had revenues of 71.3 million BAM and profit of 13.7 million BAM.
5. Phoenix
The company Vega from Valjevo was approved to take over the firm Phoenix d.o.o. Bijeljina. This is a major acquisition that will change the picture of the pharmaceutical market in BiH. Vega belongs to the group of the largest distributors of medicines and similar products in Serbia.
The owner of the company is Eter Consulting Belgrade, behind which stands Dejan Cakajac. Cakajac is one of the richest people in Serbia and the entire Balkans, and is best known as co-founder and co-owner of the well-known betting company Mozzart.
On the other hand, the company Phoenix Bijeljina is owned by the firm Phoenix PIB Austria Beteiligungs GMBH. The company Phoenix d.o.o. Bijeljina in 2024 had total revenues of over 200 million BAM. It is the second largest wholesale distributor of medicines on the market of BiH, right after Hercegovinalijek.
6. Bamcard
ASA Bank took over about 70 percent of the shares of Bamcard for about 5.5 million BAM and thereby reached 99.47 percent of the shares. The shares were sold by the company Qenta Technologies Group S.a r.l. from Luxembourg, which was the majority owner of the Sarajevo firm.
With this transaction, ASA Bank became almost the absolute owner, and will also publish an offer for the purchase of the remaining about half percent of shares.
Bamcard d.d. Sarajevo is the first processing center in BiH that provides complete support for card operations to banks. Bamcard offers solutions to financial institutions for payments and clearing. ASA is one of the most successful financial groups operating in BiH, and is domestically owned.
7. Standard Nekretnine
Serbian tycoon Miroslav Miskovic sold his company in Sarajevo, “Standard Nekretnine.” With this sale, Miskovic gave up on a large investment in Stup, where the plot owned by the mentioned company is located, and where he had planned the construction of a large shopping center and residential complex.
The company was bought by businessman Dragan Stanojlovic, who, among other things, is also engaged in the construction of shopping centers. Stanojlovic is the owner of a large chain of sports equipment stores “Sport Vision,” and co-owner of the company “City Mall,” which builds retail parks, that is, shopping centers throughout BiH under the City Park brand.
8. SAAS Solutions
SAAS Solutions – a promising technology company from Sarajevo – became part of the European mih Holding group, behind which stands Hajriz Brcvak.
SAAS Solutions is one of the most promising and fastest-growing technology enterprises in the region. This is an innovative technology company specializing in cloud services, artificial intelligence-based solutions, and cybersecurity.
Mih Holding is a group specializing in infrastructural and digital solutions. Brcvak was born in Bijelo Polje in Montenegro, and today lives mostly in Germany, where the largest part of his business empire is located. He also operates in BiH, where he has several successful companies. He is one of the most successful entrepreneurs from the Balkans, Biznis Info writes.
