Bosnia's Croatia Osiguranje to squeeze out minorities at Croatia - Remont

Minority shareholders in Croatia - Remont hold 774 shares, representing a 3.08% stake, among themselves, Croatia Osiguranje said in a filing lodged with the Sarajevo Stock Exchange (SASE).

Minority shareholders will be offered a compensation of 50 marka ($27.8/25.6 euro) per share.

Croatia Osiguranje said earlier in March it raised its stake in Croatia - Remont to 96.92% from 83.48% following a buyout bid. Croatia Osiguranje offered 50 marka 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)