BAT buys into Bosnian factory

British American Tobacco has bought the 39.9 percent stake held by a Bosnian regional government in the Fabrika Duhana Sarajevo tobacco factory, according to a Reuters story citing a BAT statement of yesterday.

BAT said it had paid 42.7 million marka ($24.4 million) for the government’s stake and that it was willing to buy the rest of the company for 83.5 marka per share: the price per share it paid the regional government.

Reuters said the Bosniak-Croat Federation was attempting to privatise a number of state-owned enterprises to plug a hole in its budget.

BAT already owns plants in Serbia and Croatia.