February 6 (SeeNews) - Croatia's Meritus Ulaganja [ZSE:MRUL] said the planned recapitalisation of its subsidiary - business process outsourcing (BPO) services provider M+ Group (Meritus Upravljanje), by Luxembourg-registered Dragon Bidco has been completed.
In December, Meritus Ulaganja, Meritus Upravljanje and Dragon Bidco signed an investment agreement and an agreement on regulating their relations, which were subsequently approved by their shareholders in January.
You can subscribe to our M&A newsletter here
With the shareholder approval now granted, all necessary contractual conditions have been met and the transaction was closed, Meritus said in a statement filed with the Zagreb bourse on Wednesday.
It did not provide any further details.
Meritus Ulaganja's shares last traded on the Zagreb bourse on January 29, closing 22.14% higher at 320 kuna ($47/43 euro).
Its two largest shareholders are local businessman Manica Pirc Oreskovic with 29.14% and Stjepan Oreskovic with 29.13%, while the remainder belongs to smaller shareholders, Zagreb bourse data showed on February 6.
(1 euro = 7.45695 kuna)