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.
You can subscribe to our M&A newsletter here
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)
Armeets Insurance Company AD is among the biggest insurers in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here