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SOFIA (Bulgaria), August 8 (SeeNews) - Bulgaria's financial regulator said it has temporarily suspended the publication of a buyout bid by local diversified group Industrial Holding Doverie for the remaining stake in insulation materials producer Hydroizomat [BUL:4HI] it does not already own.
Industrial Holding Doverie's buyout offer is targeting 279,870 Hydroizomat shares, the Financial Supervision Commission said in a statement on Tuesday.
The regulator did not disclose further details.
Industrial Holding Doverie announced its intentions to launch the buyout bid last month, saying it will offer 1.335 levs ($0.80/0.68 euro) per each of the shares it wants to acquire.
The targeted shares represent a 9.36% stake in Hydroizomat, according to bourse data.
The offer will expire 28 days after its publication.
Industrial Holding Doverie boosted its stake in Hydroizomat from 60.53% to 90.64% in several transactions throughout June.
Industrial Holding Doverie is a wholly owned unit of local group Doverie United Holding [BUL:5DOV]. Doverie United Holding owns directly a 78.5% stake in Industrial Holding Doverie, and the remaining 21.5% through its subsidiaries Homogen, United Health Insurance Fund Doverie and Medico 21.
(1 euro = 1.95583 levs)