An Austrian fund increased its stake in Bosnian holding company Fabrika Duhana Sarajevo (FDS), saying it did so with the intent of selling FDS tobacco assets to British American Tobacco (BAT), Reuters reported.

CID Adriatic Investments raised its stake in FDS to 78.8 per cent by purchasing another 38.8 per cent for the equivalent of USD 22 million (EUR 21.1 million), the news agency said. Both the initial 39.9 per cent stake and the latest acquisition reportedly were done with financing from BAT.
CID said it would enter into exclusive talks with BAT for the sale of the FDS tobacco business upon completion of the takeover bid, Reuters reported. FDS tobacco manufactures cigarettes in Bosnia-Herzegovina. The holding company reportedly also has banking and real estate operations.