Erste Bank, the majority owner of Ceska sporitelna, said yesterday that its parent company, AVS, will make a mandatory public buyout offer for CS shares after the group (Erste and AVS) reaches a 2/3 share of voting rights in CS (source - Reuters). To de-list the stock, Erste Bank needs 75% of voting rights present at the AGM.
As of Tuesday, April 16, 15,833,760 ordinary CS shares have been sold as part of the tender offer, representing 11.2% of CS’s ordinary shares (i.e., voting rights).
(Jan Hajek)