Bulgaria's Bianor closes purchase of 51% of Prime Holding

The agreement includes an option for Bianor to purchase the remaining 48.98% stake in Prime after the start of 2025, with the price to be based on Prime Holding's revenue and profit before taxes, fees and depreciation over a corresponding one-year period, Bianor said in a bourse filing on Wednesday.

The transaction completed on June 18 was priced based on 100% of the Prime Holding group's value, calculated as its sales revenue in 2023 and adjusted for net financial position and working capital as of the end of May 2024.

Last month, Bianor said it signed deals worth 50 million euro ($53.7 million) to acquire 100% of local peer Digital Lights and 51% of Prime Holding, with an option to buy the remaining stake. The acquisitions consolidate the companies already part of Bianor, as well as Prime Holding and Digital Lights, under a new brand, Wiser Technology.

As of 1137 CEST on Thursday, shares in Bianor Holding traded 4.03% higher at 6.45 levs ($3.54/3.30 euro) on the Bulgarian Stock Exchange.

($ = 0.9303 euro)