Belgrade-based office of Hypo Alpe Adria Bank initiates compulsory acquisition of shares

The Belgrade-based branch office of Austrian Hypo Bank has announced that it will initiate the procedure of the compulsory acquisition of shares by the minor shareholders who have rejected the bid for acquisition at the price of 8,500 dinars.

Since the majority owner of the Belgrade-based bank owns 99.94% of shares, it will implement the procedure regulated by the Law within the next 15 days and, thus, become the sole shareholder of this bank. With the price of 8,500 dinars per share, the value of the ban's market capitalization is 60.86 billion dinars or 574.1 million euros.