December 6 (SeeNews) - Bulgarian drug maker Tchaikapharma High Quality Medicines [BUL:7TH] said on Friday that the Financial Supervision Commission has barred the company's shareholders from voting on a proposed 14.85 million levs ($8.4 million/7.6 million euro) property purchase.
According to the regulator, Tchaikapharma has not presented a report outlining the benefits for the company from the deal within the regulated time frame, the minutes from the company's shareholders meeting show.
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Tchaikapharma is planning to acquire ten properties near Sofia from local drug wholesaler Commercial League - Global Pharma Center.
As at 13:15 CET on Friday, Tchaikapharma shares traded at 10.6 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.
Tchaikapharma's portfolio includes over 150 pharmaceutical products.
(1 euro = 1.95583 levs)