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Bulgarian insurer Armeec boosts stake in CCB Real Estate Fund further

Bulgarian insurer Armeec boosts stake in CCB Real Estate Fund further Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), January 3 (SeeNews) - Bulgarian real estate investment trust (REIT) CCB Real Estate Fund said on Wednesday that local insurer Armeec has increased the stake it owns in the company.

Armeec bought 13,000 CCB Real Estate Fund shares in two separate transactions on December 28 and December 29, both priced at 47.5 levs ($29.2/24.3 euro) per share, the REIT said in a statement.

Last week, the REIT said Armeec acquired 13,205 CCB Real Estate Fund shares, equal to a 1.2% stake in the company, on December 21. The transaction was priced at 46.5 levs per share.

At end-September, there were two shareholders in CCB Real Estate Fund with a stake exceeding 5% - CCB Group, with a 20.59% stake, and Pension Insurance Company CCB Sila, which owned 5.78% of it.

(1 euro = 1.95583 levs)

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