January 25 (SeeNews) - North Macedonia's fuel storage and transport company Oilko KDA [MSE:OILK] has asked for approval to launch a takeover bid for local fuel retailer Makpetrol [MSE:MPT], North Macedonia's Commission for Protection of Competition (CPC) said on Thursday.
The public can submit comments on the proposed transaction within ten days from the announcement, the CPC said in a notice.
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Oilko KDA plans to launch an offer to buy the remaining shares it does not already own in Makpetrol for a price of 67,001 denars ($1,187/1,093 euro) per share, it said in December. Oilko KDA currently holds a 28.2% stake in Makpetrol.
Makpetrol's shares last traded at an average price of 64,829 denars on the Macedonian Stock Exchange on Wednesday, latest bourse data showed.
Oilko's shares have not changed hands in regular trading on the MSE in the past year.
(1 euro = 61.32 denars)