December 4 (SeeNews) - Croatian meat producer Braca Pivac has paid additional 431.20 kuna ($64.2/57.95 euro) per share to the shareholders that have accepted its buyout bid for local confectionery producer Kras [ZSE:KRAS], Kras said on Tuesday.
Braca Pivac, which had offered 430 kuna per share in its buyout offer for Kras, was required to make the additional payment in order to match the price it had paid to Kras ESOP, Kras said in a filing with the Zagreb bourse
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The meat producer bought an 18.45% stake in Kras from Kras ESOP at a price of 861.20 kuna per share following the expiry of the acceptance period of the tender offer on November 22.
Braca Pivac's buyout bid has been accepted by 34 shareholders that together owned 1,343 shares, corresponding to a 0.09% stake in Kras, the Tuesday statement said.
The bidding company holds a 49.27% holding in Kras after the tender offer and the Kras ESOP deal. It owned 30.73% of the confectionery producer prior to this.
(1 euro = 7.4411 kuna)