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Bulgaria's FSC suspends Zora 2005 buyout bid for Sever Holding

Author Mario Tanev
Bulgaria's FSC suspends Zora 2005 buyout bid for Sever Holding Financial Supervision Commission/All rights reserved.

SOFIA (Bulgaria), April 17 (SeeNews) - Bulgaria's Financial Supervision Commission (FSC) said that it has temporarily suspended a buyout offer by local Zora 2005 for 258,185 shares in diversified group Sever Holding [BUL:6S8].

The regulator did not provide further details in its statement, published on Tuesday.

Last month, Sever Holding announced that Zora 2005 intends to launch a buyout bid for the remaining 33.07% stake in the company it does not own at a price of 3.65 levs ($2.12/1.87 euro) per share.

As at 12:00 CET on Wednesday,  Sever Holding shares traded at 3.5 levs apiece on the Bulgarian Stock Exchange, unchanged from their preceding closing price.

Zora 2005 is a wholly-owned unit of local Bulcontract-2003, which in turn is fully owned by Russia's Antik Turs.

(1 euro = 1.95583 levs) 

 

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