August 18 (SeeNews) - Croatian textile company Varteks [ZSE:VART] said its shareholders have accepted a proposal for recapitalisation lodged by UK-based private investment company Valtegra LLP, which is expected to invest 37.2 million kuna ($5.9 million/5.0 million euro).
Valtegra LLP is set to buy 2.1 million new shares of Varteks at 17.7 kuna apiece. According to local media reports, Valtegra would become owner of a 48.6% stake in Varteks.
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The transaction is expected to be completed in the next 30 days, Varteks said in a bourse filing on Thursday, following a shareholders meeting.
(1 euro=7.40468 kuna)