November 15 (SeeNews) - Bosnia's Serb Republic launched the sale of minority stakes in four companies worth a combined 1.1 million marka ($643,700/562,400 euro), the entity's Investment-Development Bank (IRBRS) said on Monday.
The entity's government is selling the stakes via its pension reserve fund and state-run IRBRS on the Banja Luka Stock Exchange according to the all-or-nothing principle, IRBRS said in a bourse filing.
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The entity is selling a 45% stake in furniture maker Buducnost, a 34.5% shareholding interest in meat producer Stocar, a 15.8% stake in hotel and restaurant operator BRC Seher and a 9.95% stake in agriculture company PD Semberija.
The sale begins on December 6 and will last until the order is complete or until December 24 at the latest.
The Serb Republic is one of two entities that make up Bosnia and Herzegovina. The other is the Federation.
(1 euro = 1.95583 marka)