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Report: Agram submits bid for state holding in Sarajevo osiguranje

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Report: Agram submits bid for state holding in Sarajevo osiguranje

Agramsubmitted an offer to buy a state-owned stake in Sarajevo osiguranje d.d., which is based in the Bosniak-CroatFederation, SEEbiz wrote July 14, citing a report in Bosnian daily Vecernji list.

The insuranceservices provider reportedly offered around 20 million Bosnian marka for the 2,108,469shares of the insurer that the Agency for Privatization in the Federation of Bosniaand Herzegovina put up for sale. If the bid is accepted, the acquisition will giveAgram a 30% market share.

The agency'stwo previous attempts to auctionthe state's 45.49% holding in Sarajevo osiguranje failed. In the first attempt,it had asked for 12.99 marka per share, which it lowered to 10.39 marka per share,or 21.9 million marka, for the entire stake the second time around.

The Bosniak-CroatFederation together with Republika Srpska form Bosnia and Herzegovina.

As of July 14, US$1 was equivalentto 1.76 Bosnian convertible marka.