July 26 (SeeNews) - The shareholders of Slovenian diversified firm Istrabenz have approved the sale of its 51% stake in Istrabenz Plini to Italian company SIAD, based in Bergamo, for 24.2 million euro ($26.6 million), the company said.
The sale and purchase agreement, signed by the two companies on June 10, was approved by Istrabenz shareholders on July 25, the company said in a bourse filing on Monday.
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A total of 81.02% of all votes cast during the meeting were in favour of the resolution, the company noted.
The representative of PanSlovenian Shareholders’ Association and the representative of Croatia's Zagrebacka banka – Escrow account, the holder of a 15.88% stake in the Istrabenz, declared a challenging action against the adopted resolution.
Istrabenz Plini is one of the largest suppliers of industrial gasses in Slovenia. It has subsidies in Slovenia, Croatia and Bosnia.
($=0.908 euro)