Alpha Bulgaria to hike stake in Prista Oil Holding

The transaction must be concluded by the end of 2025, Alpha Bulgaria said in a bourse filing on Wednesday.

At the end of last year, Alpha Bulgaria fully subscribed to Prista Oil's capital hike, acquiring all 97,791 shares offered for a total of 9.8 million levs. The remaining 376,414 shares are held by local investment company Prista Invest 2016.

The deal is expected to grant the investment firm an indirect stake in local battery maker Monbat [BUL:MONB], of which Prista Oil Holding owns 42.73%.

By raising its stake in Prista Oil, Alpha Bulgaria will also strengthen its presence on the lubricant products market, supporting the oil producer's growth and expansion into new markets. Additionally, the firm plans to invest in upgrading Prista Oil's production facilities.

The proposal was given the green light at an extraordinary general meeting of shareholders held on March 15.

Prista Oil operates in over 45 countries in Central and Eastern Europe, the Middle East, Central Asia and North Africa, its website shows. The company has two production facilities in Bulgaria and one in Uzbekistan, where it makes lubricants, greases and special fluids.

Shares in Alpha Bulgaria last traded on March 15 when they closed at 1.97 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)