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Dec 19, 2017 18:26 EEST
December 19 (SeeNews) - Polish group OT Logistics has expanded its stake in Croatian port operator Luka Rijeka [ZSE:LKRI] by 2.70% to 35.26% following the completion of a takeover bid, Luka Rijeka said on Tuesday.
The takeover bid, launched in November, was accepted by 148 shareholders who sold a total of 364,115 shares to OT Logistics, Luka Rijeka said in a filing to the Zagreb Stock Exchange.
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The Polish company acted in concert with pension funds run by AZ and Erste, which hold smaller stakes in Luka Rijeka, under a shareholders' agreement signed in September. The parties to the agreement now control 59.31% of Luka Rijeka among themselves.
In November, OT Logistics offered to pay 50.0 kuna ($7.8/6.6 euro) per each Luka Rijeka share it did not already own.
OT Logistics increased its stake in Luka Rijeka to 32.56% on September 7, when it acquired an additional 11.75%. A week later, the Polish company concluded a shareholders' agreement with the pension funds, under which they agreed to act together in controlling a combined shareholding interest of 56.61% in the port operator.
In July 2015, OT Logistics acquired a 20.81% stake in Luka Rijeka. Back then, the company announced that it was interested in further investing in the Croatian port operator.
(1 euro=7.54359 kuna)
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