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Bulgaria's Doverie Capital sells majority stake in Riton-P

Author Mario Tanev
Bulgaria's Doverie Capital sells majority stake in Riton-P Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), September 13 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:5DOV] said on Friday that its unit Doverie Capital sold on September 12 its entire 83.136% stake in local textile company Riton-P for an undisclosed price.

Doverie Capital sold 244,570 shares in Riton-P, Doverie United Holding said in a bourse filing without disclosing further details.

Earlier this year, Riton-P cut its capital to 294,182 levs ($170,100/150,400 euro) from 1.2 million levs.

Riton-P, established in 1939, produces clothing at its factory in the town of Panagyurishte. The company exports the majority of its output to EU countries and the US.

Doverie United Holding has 20 subsidiaries active in various sectors of the economy.

As at 13:00 CET on Friday, Doverie United Holding shares traded 1.80% lower at 3.28 levs on the Bulgarian Stock Exchange.

(1 euro = 1.95583 levs)