February 29 (SeeNews) - Bosnia and Herzegovina's white goods retailer Sloboprom has increased its stake in local health tourism company ZTC Banja Vrucica [BANJ:BVRU-R-A] to 81.5% from 63.4% after buying the stake of state-owned Investment-Development Bank of the Serb Republic, IRBRS, local media reported.
Sloboprom acquired the stake from IRBRS for a total of 10.3 million marka ($5.7 million/5.3 million euro), news provider Capital reported on Wednesday.
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Sloboprom is also the majority owner of Pobjeda, which holds a 12% stake in Banja Vrucica.
IRBRS said last week it is offering the Banja Vrucica stake for sale under the all-or-nothing principle from February 28 to February 29 at a starting price of 10.3 million marka. IRBRS held a 9% stake in Banja Vrucica through its Pension Fund, 4.7% through its Share Fund and 4.5% through its Restitution Fund.
Banja Vrucica's shares last traded on the BLSE on February 28, when they closed 0.59% higher at 1.70 marka.
The Serb Republic is one of two autonomous entities forming Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 1.956 marka)