April 3 (SeeNews) - Bosnian brewer Banjalucka Pivara [BANJ:BLPV-R-A] said it will merge with Draft, the wholly-owned Banja Luka-based subsidiary of Investment fund Altima UK Value Investments Limited (AUKVIL).
The shareholders assembly of Banjalucka Pivara has approved the merger between the brewer and Draft, whereby Draft will cease to exist without undertaking liquidity procedure and will transfer all rights and obligations to Banjalucka Pivara, Banjalucka Pivara said in a Banja Luka bourse filing on Monday.
You can subscribe to our M&A newsletter here
Banjalucka Pivara will continue to operate under the same business name, with the same business activity, without a change in its share capital.
Draft is the owner of 18,658,935 ordinary shares of Banjalucka Pivara, AUKVIL holds 1,178,063 ordinary shares, while the brewer controls 937,598 of its own shares, which together make up 99.997345% of the share capital.
The remaining 592 shares, which constitute 0.002655% of the share capital of Banjalucka Pivara, are subject to a squeeze out process launched by AUKVIL.
Altima UK Value Investments Limited is based on the Cayman islands.