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Bosnia's Ljubic increases stake in construction firm Gradip

Bosnia's Ljubic increases stake in construction firm Gradip Bosnian marka Source:

SARAJEVO (Bosnia and Herzegovina), November 8 (SeeNews) - Bosnian construction company GP Ljubic said on Monday that its takeover bid for local peer GP Gradip [BANJ:GRDP-R-A] was accepted by investors holding a total of 974,616 shares that represent 28.3593% interest in the company.

Following the transaction, Ljubic and Gradip director Branimir Bijelic, with whom the company acted together in the takeover bid, hold a stake of 88.6589% among themselves, Ljubic said in a filing to the Banja Luka Stock Exchange (BLSE).

Ljubic is now Gradip's largest shareholder with a 69.763518% stake, the latest data from the BLSE showed. Bjelic's shareholding interest remained unchanged at 18.895368%, according to the bourse data.

Ljubic offered 0.88 marka ($0.5/0.4 euro) per each Gradip share in the takeover bid, according to an earlier statement. Before the takeover offer, Ljubic held 41.404230% interest in Gradip.

Gradip's shares last traded on the Banja Luka Stock Exchange on September 30, closing flat at 0.88 marka.

(1 euro = 1.95583 marka)