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Bulgarian Phoenix Capital's buyout bid for Exclusive Property REIT draws little interest

Author Vasil Kolchev
Bulgarian Phoenix Capital's buyout bid for Exclusive Property REIT draws little interest Ken Teegardin/CC BY-SA 2.0

SOFIA (Bulgaria), January 25 (SeeNews) - Bulgarian diversified group Phoenix Capital Holding [BUL:PCH] has acquired 27,714 shares of local Exclusive Property REIT, representing a stake of 0.29%, in its buyout bid, the Bulgarian Stock Exchange (BSE) said.

The offer of Phoenix Capital to acquire the minority stake in Exclusive Property REIT [BUL:EXPR] it does not already own was accepted by six shareholders, the bourse said in a statement on Monday.

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Phoenix Capital Holding submitted its buyout bid in October, offering to pay 1.45 levs ($0.84/0.74 euro) for each of the 4,621,009 shares it did not own, which represent 48.89% of the REIT's capital, data published on Exclusive Property's website showed.

Shares in Exclusive Property REIT last traded on the Sofia bourse at a price of 1.48 levs, BSE data showed.

(1 euro = 1.95583 levs)

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