BANJA LUKA (Bosnia and Herzegovina), February 13 (SeeNews) – The financial regulator of Bosnia’s Serb Republic said on Thursday it has cleared Cayman islands-registered Altima Global Special Situations Fund to place a takeover bid for the 11.53% of Bosnian brewer Banjalucka Pivara [BANJ:BLPV-R-A] it does not already own.
Altima Global Special Situations Fund will act jointly with Altima UK Value Investments, also registered on the Cayman islands, and is obliged to pay a minimum price of 1.0 marka per stock for the remaining shares of Banjalucka Pivara, the Serb Republic's securities commission said in a filing with the Banja Luka Stock Exchange.
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The takeover bid should be placed within seven days of the date of obtaining the relevant notification.
Altima Global Special Situations Fund now owns 18,379,955 Banjalucka Pivara shares, equal to a stake of 88.47%.
Banjalucka Pivara is based in the Serb Republic, one of the two entities that form Bosnia. The other is the Muslim-Croat Federation.
(1 euro=1.95583 Bosnian marka)