April 19 (SeeNews) - Bosnia's unit of Sparkasse Bank said on Thursday it approves the buyout bid launched by its Austrian parent company Steiermarkische Bank for the 2.9573% stake it does not already hold in it.
Sparkasse Bank finds the bid fair and approves the 115.0 marka ($72.8/58.8 euro) per share its parent has pledged to pay minority shareholders who hold a total of 25,573 shares, the lender said in a Sarajevo bourse filing.
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Steiermarkische Bank launched the buyout bid for its Bosnian unit on April 12.
The banking group currently owns a 97.0427% stake in the Sarajevo-based bank, or 839,160 ordinary shares with a nominal value of 100 marka apiece.
(1 euro=1.95583 marka)
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