May 12 (SeeNews) - Croatian confectionery maker Kras [ZSE:KRAS] said on Tuesday it has raised its stake in Bosnia's largest pastry producer, Mira [BANJ:MIRA-R-A], to 96.7% from 76.1%, following a buyout bid.
In the bid, which was launched on the Banja Luka bourse on March 26, Kras acquired some 3.8 million Mira shares at 1.2109 marka ($0.67/0.62 euro) each, the Croatian company said in a statement with the Zagreb bourse.
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As a result, it now holds some 17.86 million shares in Mira.
In a separate statement on Tuesday, Kras said that its supervisory board has decided to launch a squeeze-out bid for the remaining Mira shares it does not yet own and will call a shareholders meeting to vote on it.
Mira's shares last traded on the Banja Luka bourse on March 10, closing up 19.05% at 1.00 marka.
Kras traded up 1.07% at 566 kuna ($81/75 euro) by 11:49 CET on Tuesday on the Zagreb bourse.
(1 euro = 1.95583 marka)