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Croatia approves Flexway Adriatic’s buyout bid for Zvecevo

Jun 5, 2024, 12:11:54 PMArticle by Annie Tsoneva
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June 5 (SeeNews) - Croatia's financial market regulator HANFA said it has allowed local holding company Flexway Adriatic, a subsidiary of UAE-based company Flexway DMCC, to make a takeover bid for the 24.75% stake it does not already own in Croatia confectionery producer Zvecevo [ZSE:ZVCV].

Croatia approves Flexway Adriatic’s buyout bid for Zvecevo
Zvecevo

Flexway Adriatic offers 38.71 ($42.10) euro per Zvecevo share, HANFA said in a statement on Tuesday.

The capital of Zvecevo amounts to 9.9 million euro and consists of 382,370 ordinary shares with a par value of 26 euro.

Zvecevo’s shares traded 50.79% higher at 38 euro on Wednesday morning on the Zagreb bourse.

($ = 0.919 euro)

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