Bulgaria’s FSC delists Zaharni Zavodi from public cos register

The regulator has delisted the company's 11,112,919 ordinary voting shares of 1 lev ($0.55/0.51 euro) in par value each as all the shares have been bought out, the FSC said in a statement on Thursday.

In March, local sugar and confectionery trader Zahar Invest completed its planned takeover of Zaharni Zavodi by acquiring the remaining 3.124% stake it did not already own in the target company for a total of 2.19 million levs. Earlier in the same month, Zaharni Zavodi said the buyer had purchased 311,643 of its shares, raising its stake to 96.876%.

In January, Zahar Invest, which at the time held a 94.071% stake in Zaharni Zavodi, submitted a tender offer to acquire the 5.929% stake it did not own, represented by 658,848 shares. The Financial Supervision Commission (FSC) approved the offer's publication in February.

(1 euro = 1.95583 levs)