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Croatia’s Fortenova buyout bid for Bosnian wholesaler DC Sarajevo attracts no interest

SARAJEVO (Bosnia and Herzegovina), November 28 (SeeNews) – A buyout bid by Zagreb-based conglomerate Fortenova Grupa for the 49% stake it does not already own in Bosnian wholesale and retail trader Distributivni Centar (DC) Sarajevo failed to attract investor interest, a bourse filing by Bosnia’s Federation registry of securities showed.

No shareholder accepted the Croatian company’s offer of 3 marka ($1.68/1.53 euro) per share, according to the filing with the Sarajevo stock exchange dated November 26.

Fortenova Group, the successor to the collapsed Agrokor concern, launched its bid to buy 160,684 ordinary shares of DC in mid-October. The offered price represented 3% of the nominal value of DC shares, which stands at 100 marka. It valued the target company at 983,808 marka. 

The bidder first unveiled its plans to purchase the remaining interest in the privately-owned wholesale and retail joint-stock company in July.

(1 euro = 1.95583 marka)

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