October 8 (SeeNews) - Bosnian insurer Atos Osiguranje [BANJ:BROS] said on Monday it supports the offer of Austrian sector player Grazer Wechselseitige Versicherung (GRAWE) for the squeeze out of minority shareholders.
Atos Osiguranje's board of directors evaluates positively the offer of GRAWE and considers that it does not include data or information that could lead mislead shareholders, the company said in a filing with the Banja Luka Stock Exchange.
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GRAWE owns a 99.6% stake in Atos Osiguranje. The remainder is owned by companies Univerzal Bijeljina, Holding Drinatrans and Bobar Group, the Bosnian insurer said.
The Austrian group launched a buyout bid for Atos Osiguranje on September 21, offering to pay 428.8423 marka ($251.5/219.3 euro) per each of the 214 shares owned by minority shareholders.
(1 euro = 1.95583 marka)