SOCIÉTÉ GÉNÉRALE NEGOTIATES TAKEOVER OF 53% OF OHRIDSKA BANKA SHARES
admin1 – March 7, 2007 – 1:56pm
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Société Générale announced today that it negotiated a takeover with a group of shareholders in possession of 53 percent of Ohridska banka's capital within the framework of the public offer. In agreement with the takeover rules in Macedonia, Société Générale will provide a public bid for taking over 100 percent of Ohridska banka's capital at a price of 8,157.96 denars, or 133.30 euros, per share, or a total of 43 million euros. The takeover bid will be successful if at least 51 percent of the bank's ordinary shares are sold to Société Générale.