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SARAJEVO (Bosnia and Herzegovina), October 14 (SeeNews) - Zagreb-based conglomerate Fortenova Grupa on Monday launched a buyout bid for the 49% stake it does not already own in Bosnian wholesale and retail trader Distributivni Centar (DC) Sarajevo, the group said.
The Croatian company is offering to purchase 160,684 ordinary shares of DC at a price of 3 marka ($1.69/1.53 euro) apiece, it said in a filing to the Sarajevo stock exchange.
The offered price represents 3% of the nominal value of DC shares, which stands at 100 marka. It values the target company at 983,808 marka.
The bid will remain open for 28 days.
DC's shares last traded on the Sarajevo bourse on August 19, at a price of 9.01 marka.
Fortenova in July unveiled plans to purchase the remaining interest in the privately-owned wholesale and retail joint-stock company, becoming its sole owner in the process.
(1 euro = 1.95583 marka)