BAT completes buyout bid for Serbian subsidiary

BELGRADE (Serbia), September 12th (SeeNews) – British American Tobacco (BAT) has made a takeover offer for the 11.82% of the shares in the Serbian subsidiary British American Tobacco Vranje. announced [BEL:DIVR] it didn’t already own.

Upon completion of the offering, BAT owns 99.16% of the capital of British American Tobacco Vranje, the company announced on Tuesday in a filing on the Belgrade Stock Exchange.

BAT offered 1,020 dinars ($ 10.0 / EUR 8.6) per share for the 105,641 shares of British American Tobacco Vranje that it did not own.

The takeover offer was valid until September 10, 2018.

In April BAT bought 702 shares of the Serbian company for 1,000 dinars per share as part of a takeover offer, increasing its stake to 88.18%.

(1 euro = 118,445 dinars)

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