November 28 (SeeNews) - Zagreb-based Gitone Adriatic said it holds a 71.18% stake, or 215,414 shares representing as many voting rights in Croatian hotel operator Liburnia Riviera Hoteli (LRH) after its buyout bid for the Opatija-based company.
Gitone Adriatic's offer was accepted by 496 shareholders holding a total of 52,165 shares, or a 17.24% interest in the takeover target, according to a Monday filing with the Zagreb bourse.
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The bidder launched on October 9 a tender offer for all the shares it does not already own in LRH at a price of 4,761 kuna ($705.34/640.33 euro) apiece.
Gitone Adriatic became obliged to launch a buyout offer for LRH after signing a deal to buy a 53.94% stake in the hotel operator from Zagreb-based SNH Alfa, SNH Beta, SNH Gama and SN Pectinatus in July.
(1 euro = 7.43513 kuna)