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Bulgaria's Billboard sells majority stake in Motion Arts

Author Mario Tanev
Bulgaria's Billboard sells majority stake in Motion Arts wrangler/Shutterstock.com

SOFIA (Bulgaria), July 1 (SeeNews) - Bulgarian printing and advertising company Billboard [BUL:5BP] said on Monday that it has sold a 51% stake in Motion Arts for 157,000 levs ($91,000/80,000 euro).

Billboard sold three separate minority packages, of 26%, 15% and 10%, the company said in a bourse filing.

The new shareholders also pledged to respect the agreement between Billboard and Motion Arts, under which Motion Arts should repay its obligations to Billboard within three years.

Billboard, established in 2001, offers wide format digital printing, offset printing and branding of vehicles.

(1 euro = 1.95583 levs)

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