Romanian company Cuprom has bought Serbian copper group RTB Bor for 400 million euro. The takeover contract was sealed two days ago, long after Cuprom won the RTB sale bid. Its offer was 80 million euro above the second best competitor in the acquisition process.

RTB Bor, which has been facing serious financial problems, controls a subterranean and surface copper mine in Bor, a surface mine in Majdanpek, as well as a copper melting unit.

Cuprom Romania is one of the biggest electrolytic copper, wire and conductor producers in Eastern Europe.