Romania's OPCOM electricity spot volumes - Dec 04, 2023
Romania's OPCOM electricity spot prices - Dec 04, 2023
Croatia power consumption - Dec 02, 2023
Serbia power consumption - Dec 02, 2023
Bulgaria power consumption - Dec 02, 2023
Oct 22, 2007 13:16 EEST
SOFIA (Bulgaria), October 22 (SeeNews) – Bulgarian blue-chip drug maker Sopharma has bought 6.01% of cosmetics producer Aroma for an undisclosed sum, Sopharma's managing director said on Monday.
“We think that the company [Aroma] could develop well. If there is an opportunity, we would buy more shares,” Ognian Donev told SeeNews. He did not disclose the value of the investment.
You can subscribe to our M&A newsletter here
The seller was not immediately known.
Aroma said earlier this month Bulgarian company Telecomplect, which owns 20.4% of Sopharma, has bought 5.0% of Aroma's capital for 258,200 levs ($132,104/188,770 euro).
Aroma is 49.28%-owned by Panama-registered Harisson Management and 44.97% are held by VP Trade Opportunities, also registered in Panama, according to latest data available.
Donev said Sopharma may acquire a further minority stake as the majority stake is not for sale at the moment. Donev has previously said the company aims to become a strong regional player both through organic growth and acquisitions.
The cosmetics maker said earlier this year it expects to raise its sales by between five to seven percent this year. The company posted a net profit of some 2.0 million levs and sales of 38.3 million levs for 2006.
Shares in Sopharma last traded on the Bulgarian Stock Exchange at 0932 GMT at 8.74 levs, down 1.8%. A single Aroma share changed hands on Monday at 12.8 levs, down from 14.44 levs in the previous close.
(1 euro = 1.95583 Bulgarian levs)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options