July 9 (SeeNews) - Bulgaria's Trace Group Hold [BUL:T57] said that its wholly-owned unit Infra Commerce intends to absorb local acrylic paint producer Himcolor.
Infra Commerce's capital will not be increased as a result of the merger, Trace Group Hold said in a bourse filing on Monday.
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Infra Commerce acquired 100% of Himcolor in April. Himcolor's capital comprises 5,000 shares with a nominal value of 10 levs ($5.8/5.1 euro) each
Himcolor booked revenue of 932,000 levs in 2017 and closed the year with a net profit of 68,000 levs, according to data from its latest available annual financial statement.
(1 euro = 1.95583 levs)