September 13 (SeeNews) - Bulgarian investment company ImPulse I [BUL:IMP] said that its funds ImVenture I and ImVenture II signed an agreement to sell a 25% stake they hold among themselves in local business intelligence platform Browswave AD, cutting their shareholding interest to 5%.
The value of the transaction corresponds to the fair value of the positions reflected in the portfolios of the two investment funds, ImPulse said in a bourse filing. The price includes assumption of debt, the company added without disclosing the amount.
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As agreed, the two funds will sell 12,500 common shares with a par value of 1 lev each. The buyer is a person related to Browswave’s founder, ImPulse said without revealing the name.
The deal is subject to customary closing conditions.
ImVenture I and ImVenture II first invested in Browswave in December 2018.