March 17 (SeeNews) - Serbian car dealer British Motors has launched a buyout bid for the 28.2% stake it does not already control in local insurer Globos Osiguranje [BEL:GLOS], it said.
British Motors aims to acquire 386,277 ordinary shares in Globos Osiguranje at a price of 402 dinars ($3.8/3.4 euro) apiece, the company said in a filing with the Belgrade Stock Exchange on Monday.
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The offer is valid March 16 - April 6.
The bidder currently holds 982,960 Globos Osiguranje shares, or 71.8% of the insurer's share capital.
Globos Osiguranje's shares last traded on the Belgrade Stock Exchange on March 13, closing flat at 442 dinars.
(1 euro = 117.649 dinars)