MILAN ( – Alkemy’s Serbian subsidiary, Alkemy SEE Doo, will take over 51% of Kreativa New Formula, one of the largest independent marketing and advertising agencies in Serbia. Founded in 2008, it was among the first players on the market to start a transformation of its offer towards digital solutions. The transaction will be settled on a cash basis based on a valuation of Kreativa New Formula equal to 5.8 times the adjusted Ebitda 2017, but within five years Alkemy will increase to 100% of the capital. The total value of the transaction is estimated at around 1.2 million euros.