November 28 (SeeNews) - Croatia's Fortenova Group raised its stake in Bosnia's Institute for Information Technology, INIT, to 83.2% from 67.01% following a buyout bid, Fortenova Group said.
The Croatian company acquired a total of 2,832 shares, or a 16.19% stake, in INIT, according to a filing with the Sarajevo stock exchange on Tuesday.
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Fortenova Group, the successor to the collapsed Agrokor concern, launched the bid on October 14, aiming to acquire 5,769 ordinary shares of INIT at a price of 42.7 marka ($24.04/21.83 euro) apiece.
The offered price valued the Sarajevo-based target company at 746,524 marka.
(1 euro = 1.95583 marka)