Bosnia's Sloboprom buys IRBRS' stake in Banja Vrucica - report

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.

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)