January 20 (SeeNews) - Bulgarian real estate investment trust (REIT) Balkan and Sea Properties [BUL:BSP] said that said its shareholders approved a proposal to acquire local Balchik Lodzistik Park for up to 10.5 million levs ($5.81 million/5.37 million euro).
The REIT plans to acquire Balchik Lodzistik Park from Super Borovets Property Fund [BUL:SBPF] at a price not lower than 9.5 million levs and not higher than 10.5 million levs, the company said in a bourse filing on Thursday.
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Last month, Super Borovets said its shareholders approved a proposal to sell two of its wholly-owned subsidiaries - Rest and Fly and Balchik Lodzistik Park. Shareholders also voted to raise the capital of Balchik Lodzistik Park by increasing the nominal value of its shares.
Shares in Balkan and Sea Properties last traded at 22.00 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)