March 13 (SeeNews) - Bulgaria's financial regulator said it has temporarily banned a buyout offer by Bareck Overseas, a wholly owned subsidiary of Portugal's BA Vidro, for the remaining 405,652 shares in Drujba Glassworks [BSE:4DR], which BA Vidro does not already own directly or indirectly.
The Commission for Protection of Competition provided no further details in its notice of the ban published on Friday.
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In February, Drujba Glassworks said that Cyprus-based Bareck Overseas has launched a buyout bid for the stocks representing 0.76% of Drujba Glassworks' capital, proposing to pay 3.7 levs ($2/1.9 euro) per share.
In October 2016, Greek glassmaker Yioula agreed to sell its Bulgarian unit Drujba Glassworks to BA Vidro as part of a wider divestment plan that also includes the group's glass container business in Romania.
Drujba Glassworks has two glass container plants - in Sofia and Plovdiv.
(1 euro = 1.95583 levs)