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Bulgarian investor sells minority stake in N. Macedonia's CaSys

Bulgarian investor sells minority stake in N. Macedonia's CaSys Bank card Author ( License: all rights reserved.

SKOPJE (N. Macedonia), November 16 (SeeNews) - Bulgarian businessman Tzeko Todorov Minev sold a 35.02% stake in North Macedonia-based bank card processing centre Internationalen Karticen Sistem (CaSys) to Bulgaria-based LNG Finance JSC, CaSys said.

Minev sold 2,655,602 shares in CaSys to Ruse-headquartered LNG Finance in a block transaction on November 11, CaSys said in a filing to the Macedonian Stock Exchange (MSE) on Monday.

The transaction was valued at 728 million denars ($13.5 million/11.8 million euro), according to an earlier statement by the MSE.

LNG Finance is part of LNG Systems owned by Bulgarian businessman Mladen Stankov, who also owns Bulgarian fuel wholesaler Bulmarket, according to a report by North Macedonia's news provider Bankarstvo.

Minev is one of two biggest shareholders in Bulgaria's First Investment Bank (Fibank) [BUL:5F4], each holding a 31.36% stake, data published on Fibank's website shows.

CaSys offers e-payment services to banks and non-financial institutions.

(1 euro = 61.51 denars)