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Biggest shareholder of Bosnia's Posavina gets antitrust nod for buyout bid

Biggest shareholder of Bosnia's Posavina gets antitrust nod for buyout bid Bosnian marka Source: www.vladars.net

SARAJEVO (Bosnia and Herzegovina), May 5 (SeeNews) - The securities commission of Bosnia's Serb Republic has cleared a planned buyout bid for local real estate company Posavina Srbac [BANJ:PSVN-R-A] by its largest shareholder, Slobodan Dzukic, Posavina said.

The bidder has to launch the takeover offer within seven days after the approval, Posavina said in a filing to the Banja Luka Stock Exchange (BLSE) on Wednesday.

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Dzukic intends to offer 0.56 marka ($0.30/0.29 euro) per share in the buyout bid.

Posavina's share capital of 3.46 million marka is divided into 3,464,565 shares of 1 marka in par value each. Dzukic currently holds 1,028,829 shares, representing a 29.7% stake in the company.

Posavina's shares last traded on the BLSE on December 24, closing 5.71% higher at 0.37 marka.

The Serb Republic is one of two autonomous entities that form Bosnia and Herzegovina. The other one is the Federation.

(1 euro = 1.95583 marka)

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