July 5 (SeeNews) - Croatia's Fortenova Group said on Friday it plans to launch a takeover bid for the 49% stake it does not own yet in Bosnian wholesale and retail trader Distributivni Centar (DC) Sarajevo.
Fortenova Group intends to launch a bid for 160,684 shares in DC Sarajevo, the company said in a filing with the Sarajevo Stock Exchange.
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The Croatian company owns 51% of DC Sarajevo's share capital. Its stake consists of 167,242 shares worth a total of 16.7 million marka ($9.6 million/8.5 million euro).
The business operations of Croatia's troubled food-to-retail concern Agrokor were transferred to newly formed Fortenova Group in April 2019 under a settlement agreement with Agrokor's creditors endorsed by a Zagreb court in June 2018.
Distributivni Centar Sarajevo is a privately-owned wholesale and retail joint-stock company.
(1 euro = 195583 marka)