October 18 (SeeNews) - Croatian oil and gas company INA [ZSE:INA-R-A] said on Tuesday it had increased its stake in Bosnian fuel retailer Energopetrol [SAJ:ENPSR] by 0.0011% to 67.0012% after only one shareholder accepted its buyout bid launched last month.
On September 5, INA offered 2.3 marka ($1.3/1.2 euro) for each of the remaining 1,812,664 shares in Energopetrol it did not already own.
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Only one shareholder, owner of 63 shares, accepted the offer within the 28-day deadline, INA said in a bourse filing.
In July, INA increased its stake in Energopetrol to 67% by signing an acquisition deal with Hungarian MOL, which saw INA gain an additional 33.5% in the Bosnian company.
Following the transaction, MOL is no longer a direct shareholder in Energopetrol. Bosnia's Federation entity owns 22% of the fuel retailer, while the remainder is in the hands of minority shareholders.
Earlier this year, the Federation said it plans to sell its equity in Energopetrol in 2016.
The Federation is one of the two autonomous entities that make up Bosnia and Herzegovina. The other one is the Serb Republic.
(euro = 1.95583 Bosnian marka)