The Croatian Financial Services Supervisory Agency (Hanfa) on Thursday gave the green light for the takeover of the Split-based Brodomerkur trade company by the Siroki Brijeg-based Mepas.

At its meeting, the regulator's Board decided on granting approval to the company MEPAS d.o.o., Siroki Brijeg “to publish a takeover bid relating to the acquisition of the company BRODOMERKUR d.d. trgovina i usluge, Split”.

Brodomerkur's equity is worth €25 million and divided into 99,331 shares.

On 11 August, when it acquired 3,727 Brodomerkur shares, or 3.755 of the equity, Mepas became obliged to announce its takeover bid.

In the period of one year before that, Mepas and related persons had bought stocks in Brodomerkur at the price of €85 per share, and they are expected to complete the takeover at such a price per share, Hanfa says.