March 13 (SeeNews) - Croatia's financial regulator, HANFA, said it has approved the launch of a takeover bid by shipping company Tankerska Plovidba for the 60.66% interest it does not already own in hotel owner Turisthotel [ZSE:TUHO].
The price that Tankerska Plovidba offers to pay is 610.53 euro ($652) per share, Hanfa said in a press release on Friday.
You can subscribe to our M&A newsletter here
Tankerska Plovidba was obliged to make the takeover bid on January 18 when it acquired more than 53,000 ordinary shares, representing a stake of 14.61%, from minority shareholders. After the transaction, it owns 39.34% shareholding interest in Turisthotel.
Turisthotel's equity capital of 28.2 million euro ($30.5 million) is divided into 366,756 shares with a par value of 76.98 euro each. They changed hands 0.85% higher at 595 euro on Monday morning on the Zagreb bourse, where it was the most traded stock.
($ = 0.936 euro)