July 10 (SeeNews) - Croatian energy and logistics group Energia Naturalis (ENNA) said on Wednesday it is launching a takeover bid for the remaining stake of 74.38% in Adriatic port operator Luka Ploce it does not own yet.
ENNA, the largest shareholder of Luka Ploce, is offering to pay 412 kuna ($63/56 euro) per each of the 314,605 outstanding Luka Ploce's shares, it said in a filing to the Zagreb bourse.
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The offered price is above the nominal value of 400 kuna of a Luka Ploce share.
The bid will remain open for 28 days.
ENNA's current stake of 25.62% in Luka Ploce is distributed in 108,362 shares.
Luka Ploce shares last traded on the Zagreb bourse on Monday, closing 0.96% lower at 412 kuna.
ENNA became obliged to launch the bid in January after increasing its holdings in the port operator above the 25%-threshold that requires the publishing of a takeover bid. Back then, it acquired 2,848 Luka Ploce's shares at 368 kuna each, growing its stake to 25.62% from the previous 24.95%.
In the takeover invitation, ENNA noted that its net profit fell to 153 million kuna last year from 189 million kuna in 2017.
ENNA manages some 20 companies within its group. It is doing business in many sectors, primarily distribution and supply of natural gas, trading in oil products, renewable energy sources, spreading all the way to information technology, transport and investments. The list of ENNA companies includes Prvo Plinarsko Drustvo (PPD) group, which is active in the import, sale, supply and distribution of natural gas.
(1 euro = 7.39213 kuna)