Bosnian securities registry reveals buyer of Bosnalijek stake

Bosnian securities registry reveals buyer of Bosnalijek stake
By bne IntelliNews October 11, 2016

Malta-registered financial services provider KBC Euro Credit Capital was the buyer of a 19.25% state-owned stake in Bosnian blue-chip drug producer Bosnalijek at an extraordinary auction on the Sarajevo Stock Exchange earlier this month, data from the Bosnian Federation’s securities registry showed on October 11.

On October 6, an unknown investor - now revealed to be KBC Euro Credit Capital - bought the stake previously owned by the Federation’s government for BAM23.38mn (11.95mn), offering the highest price of BAM15.51 per share. 

According to the website of the Federation’s securities registry, the Maltese company is the second-largest stakeholder in Bosnalijek following the deal that has now been completed.

Luxemburg-based firm Haden SA remained the largest single shareholder in Bosnalijek with a 29.95% stake at end-June 2015. The third biggest owner is Tripoli-based Economic and Social Development Fund with 8.78%. Haden first entered Bosnalijek in September 2012 when it bought the 8.37% stake of the World Bank’s IFC.

In 2010, US pharmaceutical company Alvogen wanted to buy the stake and was also interested in acquiring stakes held by other shareholders. However, no agreement was reached as the government decided to postpone the launch of a new tender after new potential buyers from Libya, the UAE, Poland, Germany, Slovenia and Croatia reportedly appeared.

KBC Euro Credit Capital was set up in 2015 and provides a range of financial services, according to the company’s website.

Related Articles

Political uncertainty remains main risk to Bosnia’s economic growth, World Bank says

Political uncertainty remains the main risk to Bosnia & Herzegovina’s medium-term outlook as the lack of agreement between entities could delay reforms, the World Bank said in the ... more

Shell again eyes oil, gas exploration in Bosnia

Royal Dutch Shell is again interested in oil and gas exploration in Bosnia & Herzegovina ... more

Bosnia indicts former interior minister, 37 others for organised crime

The prosecution of Bosnia & Herzegovina’s Sarajevo canton formally indicted former interior minister Alija Delimustafic and 37 other individuals, as well as eight legal entities in a large ... more

Dismiss