June 20 (SeeNews) - Austria-based Raiffeisen SEE Region Holding said it is going to squeeze out minority shareholders at its Bosnian arm Raiffeisen Bank BiH.
Raiffeisen SEE Region Holding will use its right to squeeze out the minorities at Raiffeisen Bank BiH as it holds a stake larger than 95% following several buyout bids, it said in a Sarajevo bourse filing on Wednesday.
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The holding company increased its stake in Raiffeisen Bank BiH by 0.0010% to 99.9962% in its most recent buyout bid that closed on June 17.
Raiffeisen Bank BiH said in a separate bourse filing on Wednesday that it is calling an extraordinary shareholders' meeting for July 4 to decide on establishing a limited liability company.
Raiffeisen has been present in Bosnia since 2000, when it acquired Market Banka. Raiffeisen Bank BiH is based in Sarajevo, in the Federation, one of the two autonomous entities making up Bosnia and Herzegovina. It has branches in the other entity, the Serb Republic.