March 6 (SeeNews) - Slovenian skiing footwear producer and retailer Alpina said on Wednesday that it plans to use its right to squeeze out minority shareholders in its Bosnian subsidiary, Alpina FOGS, after a buyout bid attracted limited investor interest.
Minority shareholders in Alpina FOGS hold 5,077 shares, representing a a 2.49% stake, among themselves, Alpina said in a filing lodged with the Sarajevo Stock Exchange (SASE).
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Minority shareholders will be offered a compensation of 2.90 marka ($1.6/1.5 euro) per share.
Alpina said in January it raised its stake in Alpina FOGS to 97.51% from 96.56% following a buyout bid. Alpina offered 2.90 marka per share in the buyout bid launched on December 1.
Alpina FOGS's total share capital of 592,273 marka is divided into 204,232 shares, each with a par value of 2.90 marka.
Ziri-headquartered Alpina was founded in 1947.
(1 euro = 1.956 marka)