SARAJEVO (Bosnia and Herzegovina), May 16 (SeeNews) – The buyout bid launched by Slovenian holding company Triglav INT, a member of the country's biggest insurer Zavarovalnica Triglav, for the 12% stake it does not already own in Bosnian insurance company Triglav Osiguranje [SAJ:BHOSR] has failed, the latter said on Tuesday.
Not one of Triglav Osiguranje's shareholders accepted Triglav INT's offer, the Sarajevo based company said in a bourse filing.
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Triglav INT had planned to acquire 4,520 ordinary shares, or 12.4% of all ordinary shares, and 468 preferred shares, or 9.1% of all preferred shares, in the Bosnian-based insurer.
The offered price per share was 1,105.50 marka ($624.4/565.2 euro), or 194.63% of the nominal value.
Triglav INT holds 87.6% of Triglav Osiguranje's ordinary shares and 90.9% of its preferred shares, or an aggregate 88% of all company shares.
(1 euro=1.95583 marka)
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