November 26 (SeeNews) - The Croatian financial regulator, HANFA, has given the green light to Czech-based trading firm Auctor Holding to launch a takeover bid for the remaining 57.6% in Croatian pharmaceuticals distributor Medika [ZSE:MDKA-R-A] it does not yet own.
Auctor is offering 7,716 kuna ($1,143/1,037 euro) per each Medika share, a HANFA filing with the Zagreb bourse dated Monday shows.
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The share capital of Zagreb-based Medika is distributed into 30,194 ordinary shares of 6,930 kuna in par value each, or an overall 209.24 million kuna.
The Czech-based trading firm was obliged to launch a buyout bid after raising its stake in Medika to 42.4% in July, considering that Medika itself owns 9.74% of its own equity.
(1 euro = 7.43458 kuna)