October 12 (SeeNews) - German manufacturing group Mann+Hummel said on Friday it has launched an offer to squeeze out minority shareholders in Bosnian automotive filters subsidiary Mann+Hummel BA [SAJ:UNFT].
Mann+Hummel owns 531,190 shares in Mann+Hummel BA which represents a 97.53% stake in the capital of the Bosnian company, the German group said in a filing with the Sarajevo Stock Exchange.
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The capital of Mann+Hummel BA is divided into 544,616 shares with a nominal value of 28 marka ($16.6/14.3 euro) apiece, the German company said.
The net profit of Mann+Hummel BA increased to 5.9 million marka in the first half of 2018, from 3.9 million marka in the like period of last year.
(1 euro = 1.95583 marka)