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Bulgarian pension insurer Toplina buys 8.25% of Port Flot-Burgas

Author Mario Tanev
Bulgarian pension insurer Toplina buys 8.25% of Port Flot-Burgas Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), September 4 (SeeNews) - Bulgaria's Port Flot-Burgas [BUL:P2B] said that local Pension Insurance Company Toplina, through two of the funds it manages, has acquired an 8.25% stake in the company for an undisclosed price.

Universal Pension Fund Toplina controls 6.97% interest in Port Flot-Burgas, while Professional Pension Fund Toplina owns 1.28%, Port Flot-Burgas said in a bourse filing.

At the same time, Port Flot-Burgas' biggest shareholder - ARZ Holding, cut its stake in the company to 77.23%.

On September 29, an 8.25% stake in Port Flot-Burgas traded in two deals on the Bulgarian Stock Exchange. The first deal, for a 6.97% interest in the company, was worth some 2.8 million levs ($1.6 million/1.4 million euro), while the 1.28% stake changed hands for a total of 516,300 levs.

Earlier this month, Universal Pension Fund Badeshte acquired a 6.98% stake in Port Flot-Burgas. At the time, ARZ Holding decreased its shareholding to 85.48%.

On August 26, a 6.98% stake in Port Flot-Burgas traded in a single deal worth some 2.79 million levs ($1.6 million/1.4 million euro) on the Bulgarian Stock Exchange.

Port Flot-Burgas shares started trading on the BSE last month. 

At the time of its listing, the company was 99.99% owned by local ARZ Holding-2002, according to commercial register data. Local private investor Dimitar Hristov controled the remaining 1 share.

ARZ Holding-2002 is fully owned by Great Britain-registered Monterina Ltd.

(1 euro = 1.95583 levs)