FDS takes over Vakufska Bank

Fabrika duhana Sarajevo has announced a tender offer for the remaining shares of Vakufska Bank that are not in its ownership. Fabrika duhana Sarajevo, which recently increased its stake in Vakufska Bank to 48 percent, has offered to buy the remaining 226,557 shares of Vakufska Bank, or 51.9 percent, at a price of 18 KM per share, writes Indikator.ba, as reported by the Patria news agency.

FDS will finance the share purchase aimed at acquiring 100 percent ownership in Vakufska Bank with its own funds. 

Fabrika duhana Sarajevo took ownership control of Vakufska Bank in early December 2014, after purchasing a 28.3 percent stake from the then-largest individual shareholder, BFSE HOLDING BV, Amsterdam, Netherlands. 

The transaction cost 2,224,098 KM. After FDS, the largest individual shareholders of Vakufska Bank are Mahmal Investment Co Limited from the British Virgin Islands with 12.7 percent and HIFA Oil Tešanj with 6.1 percent.