May 3 (SeeNews) - Czech asset management company Port Acquisitions has launched a takeover bid for the 65.58% interest it does not already own in Croatian port operator Luka Rijeka [ZSE:LKRI], the law firm representing Port Acquisitions in the planned transaction said on Wednesday.
The takeofer offer priced at 8.40 euro ($9.27) per share will be valid in the next 28 days, Croatian law firm Tus & Grzic, a legal representative of Port Acquisitions, said in a statement.
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Port Acquisitions, fully owned by Czech industrial group CE Industries, has become obliged to make the bid since March 14, when its shareholding interest in the Croatian company reached 34.42%. According to the Croatian law on takeovers, Port Acquisitions is due to make a takeover offer because its stake in Luka Rijeka has exceeded the legally defined threshold of 25%.
The equity capital of Luka Rijeka totals 71.6 million euro divided into 13,480,475 shares with a nominal value of 5.31 euro each.
Intraday on Wednesday, Luka Rijeka’s shares traded 1.18% higher at 8.60 euro on the Zagreb bourse.
($ = 0.906 euro)