June 19 (SeeNews) - Bulgaria's Doverie United Holding [BUL:5DOV] said on Tuesday that it has sold its entire 14.05% stake in local insulation materials producer Hydroizomat [BUL:4HI] for an undisclosed price.
Doverie United Holding sold 419,970 Hydroizomat shares, in transactions settled on June 18, the holding company said in a statement.
You can subscribe to our M&A newsletter here
On June 14, a total of 419,970 Hydroizomat shares changed hands in two transactions on the Bulgarian Stock Exchange, bourse data shows. The larger transaction involving 419,370 shares, was priced at 1.25 levs ($0.74/0.64 euro) apiece, while the remaining 600 shares changed hands for 1.26 levs apiece.
Earlier on Tuesday, Doverie United Holding said its unit Industrial Holding Doverie, has acquired 419,370 Hydroizomat shares for an undisclosed price, increasing its stake in the company to 89.05%.
Doverie United Holding owns 78.5% of Industrial Holding Doverie. It owns the remaining 21.5% through its subsidiaries Homogen, United Health Insurance Fund Doverie and Medico 21.
Doverie United Holding spans over 25 companies operating in various sectors of the economy.
(1 euro = 1.95583 levs)