Bulgaria's Elea Capital gets revised offer from Rehub

The Financial Supervision Commission (FSC) has not taken a stand on the submitted proposal yet, Elea Capital said in a stock exchange filing on Friday.

In November, the financial regulator suspended Rehub's original offer after identifying several deficiencies, including the number of shares the bidder owns in Elea Capital, the stake it seeks to acquire and its post-acquisition plans for management bodies, personnel and employment contracts.

Rehub, which held 65,300 voting shares in Elea Capital at the time, equal to a 69.64% stake, submitted an offer in October to buy the remaining 28,474 shares at 35.80 levs apiece.

Shares in Elea Capital last traded on November 22 when they closed at 26.00 levs on the BaSE market of the Bulgarian Stock Exchange, bourse data show.

(1 euro = 1.95583 levs)