ZAGREB, March 4 (Hina) - The stockholders of Zagrebacka Banka (ZABA) met Monday to clear the way for a sale of Croatia's largest bank to an Italian-German consortium. The sale to Italian Unicredito and German Allianz is expected to be
completed on Tuesday, March 5. Votes at Monday's meeting eliminated a five-percent limit on the voting power of any single shareholder, and bound the Croatian bank to the rules of its new owner. ZABA General Manager Jaksa Barbic said at least 70 percent of the bank's shareholders had accepted the consortium's offer between February 15 and March 1, making the offer unconditional. Barbic said he will know exactly how many shareholders accepted in a day or two. The consortium's offer had an estimated value of US$238.57 per share, of which about 20 percent is in cash and the balance in securities.(hina) np sb
ZAGREB, March 4 (Hina) - The stockholders of Zagrebacka Banka
(ZABA) met Monday to clear the way for a sale of Croatia's largest
bank to an Italian-German consortium. The sale to Italian
Unicredito and German Allianz is expected to be completed on
Tuesday, March 5.
Votes at Monday's meeting eliminated a five-percent limit on the
voting power of any single shareholder, and bound the Croatian bank
to the rules of its new owner.
ZABA General Manager Jaksa Barbic said at least 70 percent of the
bank's shareholders had accepted the consortium's offer between
February 15 and March 1, making the offer unconditional. Barbic
said he will know exactly how many shareholders accepted in a day or
two.
The consortium's offer had an estimated value of US$238.57 per
share, of which about 20 percent is in cash and the balance in
securities.
(hina) np sb