May 26 (SeeNews) - Zagreb-based Meteor Grupa-Labud (MGL) is offering to pay 12.86 kuna ($1.86/1.70 euro) per share in a planned bid to squeeze out the minorities at Croatian alcoholic beverages producer Badel 1862 [ZSE:BD62], the latter said on Tuesday.
MGL has submitted a request to the management of Badel 1862 to convene a general assembly to vote on the transfer of shares belonging to minority shareholders to MGL as a main shareholder, Badel 1862 said in a statement with the Zagreb bourse.
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MGL owns 97% of Badel 1862, bourse data showed on May 26.
In January, Badel 1862's shareholders approved a plan to delist its shares from the Zagreb bourse. Later the same month, the bourse said that the last trading day for the shares will be July 15, and they will be delisted on the next day.
Badel 1862's shares traded up 23% at 12.30 kuna by 11:27 CET on Tuesday on the Zagreb bourse.
(1 euro = 7.58459 kuna)