April 12 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said it has removed local sugar and ethanol producer Zaharni Zavodi from the register of public companies.
The regulator has delisted the company's 11,112,919 ordinary voting shares of 1 lev ($0.55/0.51 euro) in par value each as all the shares have been bought out, the FSC said in a statement on Thursday.
In March, local sugar and confectionery trader Zahar Invest completed its planned takeover of Zaharni Zavodi by acquiring the remaining 3.124% stake it did not already own in the target company for a total of 2.19 million levs. Earlier in the same month, Zaharni Zavodi said the buyer had purchased 311,643 of its shares, raising its stake to 96.876%.
In January, Zahar Invest, which at the time held a 94.071% stake in Zaharni Zavodi, submitted a tender offer to acquire the 5.929% stake it did not own, represented by 658,848 shares. The Financial Supervision Commission (FSC) approved the offer's publication in February.
(1 euro = 1.95583 levs)