August 28 (SeeNews) - Bosnia's Sejari said it has expanded its stake in local bus transport company Centrotrans Eurolines [SAJ:CTBU] to 62.8% from 47.6% following a buyout bid.
Sejari bought 18,456 out of the targeted 63,681 Centrotrans shares, or 15.2% of the issued share capital during the period when the bid was open, it said in a filing with the Sarajevo Stock Exchange (SASE) on Tuesday.
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It had offered to pay 46 marka ($26.1/23.5 euro) per share, which is 65.71% of the stock's nominal value.
Centrotrans-Eurolines shares last traded on the SASE on August 22 when they closed unchanged at 54 marka.
Sarajevo-based Sejari is the official representative, distributor and maintenance services provider of bus brands such as VDL Bus & Coach, Isuzu and Krone for Bosnia and Herzegovina.
Centrotrans Eurolines was founded in 1963 as part of the Centrotrans Sarajevo transport company. In 1997, it became a full member of the Eurolines organization.
Centrotrans is the leading bus transport company in Bosnia, with a fleet of over 200 vehicles.
(1 euro = 1.95583 marka)