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Nov 21, 2007 11:50 EEST
November 21 (SeeNews) - Slovenian fuel trader Petrol said on Wednesday it had acquired 32.38% of local energy-to-tourism holding firm Istrabenz, following a takeover bid, which expired on Monday.
Last month Petrol placed a takeover bid for Istrabenz, offering to pay 100 euro ($146.2) per share, but later raised the price to 110 euro per share.
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“According to the takeover offer and prospect, the takeover bid for the targeted company was successful,” Petrol said in a statement. The fuel trader now owns 32.44% of Istrabenz.
Shares in blue chip Istrabenz fell 2.25% to an average price of 104.01 euro in morning trade on the Ljubljana Stock Exchange on Wednesday. Petrol, also a blue chip, lost 1.93% to 899.96 euro.
($ = 0.68 euro)
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