September 29 (SeeNews) - Bulgarian telecommunications services provider Allterco [BUL:A4L] said it has acquired 100% of the shares of office building owner Allterco Properties from real estate company JAFC Developments for 1.8 million euro ($2.1 million).
The acquisition will allow all of Allterco’s subsidiaries to carry out their operations in the same office building, the company said in a bourse filing late on Thursday. It will also provide for the development of a high-tech lab with EU funds.
You can subscribe to our M&A newsletter here
The acquisition was made on a debt free cash free basis, according to the filing.
Allterco will finance the deal with a 1.62 million euro bank loan and with own funds, the company said back in April.
($=0.8472 euro)