September 12 (SeeNews) - British American Tobacco (BAT) has said it completed a buyout bid for the 11.82% stake in Serbian subsidiary British American Tobacco Vranje [BEL:DIVR] it did not already own.
After the completion of the bid, BAT owns a 99.16% stake in the capital of British American Tobacco Vranje, the company said in a filing with the Belgrade Stock Exchange on Tuesday.
You can subscribe to our M&A newsletter here
BAT offered 1,020 dinars ($10.0/8.6 euro) per share for the 105,641 shares it did not own in British American Tobacco Vranje.
The takeover offer was valid until September 10, 2018.
In April, BAT bought 702 shares in the Serbia-based company for 1,000 dinars per share during a takeover bid, increasing its stake to 88.18%.
(1 euro = 118.445 dinars)