December 3 (SeeNews) - Bulgarian diversified group Holding Nov Vek [BUL:6N3] said that its wholly-owned subsidiary Bulian intends to acquire 100% in local agriculture company Agroplasment-92-V.
Holding Nov Vek is planning to sell its 41.44% stake in Agroplasment-92-V to Bulian for 10.9 million levs ($6.3 million/5.6 million euro), the holding company said in a statement on Friday.
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Holding Nov Vek will hold an extraordinary shareholders meeting on December 31, when the proposal to sell the stake to Bulian will be put to a vote.
Bulian will pay the stake by the end of June 2019.
Subsequently, Bulian will seek to acquire all remaining in Agroplasment-92-V from other sharehlders.
Bulian and Agroplasment-92-V operate on the same market, carry out the same activities and have the same suppliers, so the deal will optimise the operations of the two companies, Holding Nov Vek said.
(1 euro = 1.95583 levs)