January 13 (SeeNews) - Bulgaria’s Financial Supervision Commission (FSC) said it approved a revised takeover offer by local company DNS Invest to acquire the stake of 29.85% in its subsidiary Rodina Capital [BUL:RDNA] it does not already own.
The regulator has decided not to ban the publication of the revised offer for the acquisition of the remaining 27,994 shares in Rodina Capital, it said on Thursday.
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The FSC issued in December a temporary ban on DNS’ initial bid, requiring a price recalculation. In response, DNS which already owns 70.15% shareholding interest in Rodina Capital, revised its offer, proposing to pay 7.65 levs ($4.22/3.91 euro) per share.
Rodina Capital said earlier this month that its board of directors believes the revised offer is fair. According to the statement, DNS has submitted a strategic plan for Rodina Capital’s activity after the potential deal, which involves the construction of 2 MW photovoltaic power plant. The initial investment in the project in 2023 is estimated at 2.5 million levs.
(1 euro = 1.95583 levs)