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BAT unit's bid for 2.6% stake in Bosnian retailer Opresa fails

BAT unit's bid for 2.6% stake in Bosnian retailer Opresa fails British American Tobacco

SARAJEVO (Bosnia and Herzegovina), August 22 (SeeNews) – A buyout bid launched by British American Tobacco Investments (Central and Eastern Europe) (BATICEE) for a 2.6% stake in Bosnian retailer Opresa has failed to attract a single seller, the Sarajevo bourse said on Tuesday.

BATICEE was offering to pay 15.42 marka ($9.3/7.9 euro) per share for the 31,241 shares it does not yet own, the Sarajevo Stock Exchange reported on its website.

The bid was open for 28 days started July 12.

BATICEE currently owns 1,191,908 shares in Opresa.

In 2015, BATICEE increased its shareholding in the Bosnian retailer to 97.4% following the successful completion of a tender offer, which was accepted by six shareholders.

Opresa, based in Sarajevo, runs a chain of kiosks and is involved in the wholesale distribution of cigarettes, newspapers and other consumer goods.

(1 euro=1.95583 Bosnian marka)

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