As it was expected and earlier announced on the shareholders’ assemblies, Adris has filed for a squeeze-out of minority shareholders of HUP-Zagreb. The price is HRK 3,446 per share.
To recap, Adris acquired a 59% stake in HUP-Zagreb through the acquisition of Expertus early in 2018. A mandatory bid followed in which Adris offered HRK 3,969.16 per share and ended owning 94% shares of HUP-Zagreb (slightly above 95% if we take into account the treasury shares). On 10 December 2018 HUP-Zagreb held a shareholders’ assembly where they approved the squeeze-out at HRK 3,446 per share and a dividend of HRK 515 per each HUP-Zagreb share (ex-date was 13 Dec 2018).
On 18 January 2019 Adris filed a squeeze-out request with the Court Registry. The transaction will be finalized once the Court approves the request.