October 3 (SeeNews) - A takeover bid for North Macedonia's textile products manufacturer Edinstvo [MSE:EDIN] by its CEO and largest shareholder, Sashko Kuzmanov, attracted no investor interest, Edinstvo said on Tuesday.
None of the other shareholders in Edinstvo accepted Kuzmanov's offer, Edinstvo said in a filing with the Macedonian Stock Exchange (MSE).
You can subscribe to our M&A newsletter here
Kuzmanov launched the takeover offer in August, offering 80 denars ($1.4/1.3 euro) per share.
The investor holds 17,232 shares, equal to a 42.66% stake, in Edinstvo. In the takeover bid, Sashko Kuzmanov acted together with Iljo Kuzmanov, who owns a 38.20% stake in the company.
Edinstvo's equity capital is divided into 40,397 shares of 35.79 euro in par value each.
Its shares last traded on the MSE on July 11, at an average price of 80 denars.
(1 euro = 61.59 denars)