July 25 (SeeNews) - Bosnian management and consultancy firm Athabasca Investment plans to take over local manufacturer of medical devices, sanitary and hygiene products Saniteks, the country's competition council said.
Athabasca submitted on April 30 a request for approval of the planned takeover of Saniteks through a purchase of majority stake, the competition council said in a statement earlier this week.
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Since the concentration that would arise from the takeover will impact the production and sales of medical equipment and sanitary materials in Bosnia and Herzegovina, the competition council is asking all interested parties to send their comments on the issue within 15 days.
The value of the transaction was not disclosed.
Saniteks, founded in 1962, has been cooperating for decades with renowned world companies. More than 50% of its sales revenue comes from foreign markets, mostly in the EU. Its production facilities are situated on 30,000 square metres in Velika Kladusa and Buzim, in northwestern Bosnia.
As of July 19, Athabasca was the largest shareholder in Saniteks with a 41% stake, Sarajevo bourse data showed on Thursday. Bosnian businessman Nijaz Veladzic held a stake of 9.7%, Sarajevo-based Pro Consulting followed with 4.9% and local businessman Alija Husic with 4.2%. The remainder was owned by a number of smaller shareholders.