November 12 (SeeNews) - Bosnian financial services company ASA Finance, part of ASA Group, plans to launch a tender offer to buy the shares it does not already own in Sarajevo-based Vakufska Banka [SAJ:VKFBR].
ASA Finance currently holds 554,919 shares in the target company, representing a 73.39% stake, according to a filing published with the Sarajevo Stock Exchange (SASE) on Monday.
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The filing confirms a local media report on Wednesday saying that ASA Finance has acquired a majority stake in Vakufska.
Prior to the report, SASE said in a filing that over 550,000 Vakufska Banka shares were sold at a price of 31 marka apiece. The transaction was valued at a total of 17.2 million marka ($9.7 million/8.8 million euro).
Vakufska Banka was previously controlled by Badeco Adria d.d. Sarajevo, which held a 73.2% stake in the bank.
(1 euro = 1.95583 marka)