November 2 (SeeNews) - Bosnia and Herzegovina's wood furniture maker Wood Team said it has increased its stake in local metal products manufacturer Livnica [SAJ:LVNCR] to 48.3929% from 38.3578% following a takeover bid for the company.
A total of 12 shareholders of Livnica controlling a 10.0351% stake among themselves have accepted Wood Team's takeover offer, the bidder said in a bourse filing on Wednesday.
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Wood Team launched an offer to buy the remaining shares it does not already own in Livnica in September, offering to pay 2.50 marka ($1.4/1.3 euro) per share.
Livnica's capital is divided into 217,815 shares with a par value of 10 marka each.
Livnica's shares last traded on the Sarajevo Stock Exchange on October 17, closing flat at 4 marka.
(1 euro = 1.95583 marka)