March 7 (SeeNews) - Bosnia-based insurer Croatia Osiguranje d.d. Mostar [SAJ:CROSRK5] said on Thursday that it has raised its stake in local provider of motor vehicles repair and maintenance services Croatia - Remont [SAJ:CRMCR] to 96.92% from 83.48% following a buyout bid for the company.
Croatia Osiguranje's buyout bid was accepted by two shareholders of Croatia - Remont holding a combined 13.44% stake in the company, the insurer said in a bourse filing.
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Croatia Osiguranje offered 50 marka ($27.9/25.6 euro) per share in the buyout bid launched in January.
Croatia - Remont's capital is divided into 25,090 shares with a par value of 85 marka each.
Zagreb-based insurer Croatia Osiguranje controls 97% of its Bosnian unit.
(1 euro = 1.956 marka)
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