February 3 (SeeNews) - The government-controlled stake in Croatian alcoholic beverages producer Badel 1862 [ZSE:BD62] has dropped to 0.23% after Badel acquired a 11.49% shareholding from the state, the company said on Monday.
The state holdings decreased on January 29 after the government's centre for enterprise restructuring and privatisation, CERP, transferred 2,919,222 state-owned shares to Badel, the company said in a filing to the Zagreb Stock Exchange (ZSE).
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The government decided to sell its stake in Badel after the company approved on January 13 a decision to delist its shares from the ZSE as of July 16 - a move opposed by the government.
The company did not reveal the purchasing price of the shares it acquired from the government.
Badel 1862's capital of 254 million kuna ($37.7 million/34.1 million euro) is divided into 25.4 million shares with no nominal value. Zagreb-based Meteor Grupa-Labud controls 84.29% of Badel 1862. The remainder belongs to small shareholders, according to February 3 ZSE data.
Badel 1862's shares closed 6.54% lower at 10 kuna on Friday. They did not trade by 1257 CET on Monday.
(1 euro = 7.44634 kuna)