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Croatia’s Djakovic Ends Ingra Bid After Securing 24% Holding

Oct. 23 (Bloomberg) -- Djuro Djakovic d.d., Croatia’s largest heavy-vehicle maker, said it would end its bid to acquire Ingra d.d., a Zagreb-based construction company, after shareholders showed insufficient interest.

Djakovic secured a 23.5 percent stake in Ingra compared with the 95 percent holding it needed, the company said in a statement published today on the Zagreb stock exchange. The bid, in which Djakovic offered 6 kuna ($1) per share, was placed on Sept. 14 and was valid through Oct. 19.

Djakovic is based in Slavonski Brod, Croatia.

To contact the reporter on this story: Jasmina Kuzmanovic in Zagreb at jkuzmanovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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