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Bulgaria's Industrial Holding Doverie launches buyout bid for Hydroizomat

Bulgaria's Industrial Holding Doverie launches buyout bid for Hydroizomat Author: Hydroizomat. License: All rights reserved.

SOFIA (Bulgaria), July 10 (SeeNews) - Bulgarian diversified group Industrial Holding Doverie launched a buyout offer priced at 1.335 levs ($0.80/0.68 euro) per share for the 279,870 shares in local company Hydroizomat it does not already own, the hydro insulation materials maker said on Tuesday.

The targeted shares represent a 9.36% stake in Hydroizomat, the company said in a bourse filing.

The offer will expire 28 days after its publication, which has not yet been approved by the Financial Supervision Commission.

Industrial Holding Doverie boosted its stake in Hydroizomat from 60.53% to 90.64% in several transactions throughout June.

Doverie United Holding [BUL:5DOV] owns directly a 78.5% stake in Industrial Holding Doverie, and the remaining 21.5% through its subsidiaries Homogen, United Health Insurance Fund Doverie and Medico 21.

(1 euro = 1.95583 levs)

 

 

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