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Bulgaria's Erast increases stake in Svetlina to 37%

Author Mario Tanev
Bulgaria's Erast increases stake in Svetlina to 37% Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), October 11 (SeeNews) - Bulgarian lighting equipment retailer Svetlina [BUL:3LX] said on Thursday that local firm Erast has increased its stake in the company by 6.51% to 37.03%.

Erast acquired 28,812 shares in Svetlina, equal to 6.51% of the company's capital, on October 9, Svetlina said in a bourse filing.

Svetlina shares last traded on the Bulgarian Stock Exchange at a price of 5 levs ($2.96/2.56 euro) apiece.

In May, Erast acquired a 30.52% stake in Svetlina from diversified group Synergon Holding [BUL:6S7], which remained with a 55% stake in the company.

Sofia-based Erast, which has a registered capital of 255,000 levs, is fully owned by local private individual Albena Ivanova, according to commercial register data. The company is active in the field of liquefied petroleum gas storage and retail.

(1 euro = 1.95583 levs)