June 27 (SeeNews) - Bulgarian diversified group Doverie United Holding [BUL:5DOV] said on Wednesday that its unit Industrial Holding Doverie has increased its stake in local producer of hydro insulation materials Hydroizomat by 1.59% to 90.64%.
Industrial Holding Doverie has acquired 47,476 Hydroizomat shares for an undisclosed price, according to a bourse filing of Doverie United Holding.
You can subscribe to our M&A newsletter here
According to Bulgarian Stock Exchange data, 47,476 Hydroizomat shares changed hands in a single transaction on June 22 priced at 1.25 levs per share ($0.74/0.64 euro).
On June 14, Industrial Holding Doverie acquired a 14.49% stake in Hydroizomat, boosting its shareholding interest to 75.02%. On June 18, Industrial Holding Doverie acquired a further 14.03% in Hydroizomat.
Doverie United Holding owns directly a 78.5% stake in Industrial Holding Doverie. It owns the remaining 21.5% through its subsidiaries Homogen, United Health Insurance Fund Doverie and Medico 21.
Doverie United Holding spans over 25 companies operating in various sectors of the economy.