May 31 (SeeNews) - Croatia's Privredna Banka Zagreb [ZSE:PBZ-R-A] has launched a buyout bid for the remaining 5.1% stake in Bosnia’s Intesa Sanpaolo Banka it does not already own, data from the Sarajevo Stock Exchange indicated on Wednesday.
Privredna Banka is offering to pay 380 marka ($218/194.3 euro) for each of the 22,618 ordinary shares and 60 preferred shares it does not own in the Sarajevo-based bank, bourse data shows.
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The nominal value of each Intesa Sanpaolo Banka's share is 100 marka.
The offer is valid for 28 days.
In July 2015, Privredna Banka Zagreb acquired 94.8% of the Bosnian bank for 192.8 million marka. According to bourse data, Privredna Banka Zagreb currently owns a 94.9% stake in its Bosnian peer.
Privedna Banka Zagreb and Intesa Sanpaolo Banka are parts of Italian banking group Intesa Sanpaolo.
(1 euro= 1.95583 marka)