April 24 (SeeNews) - Bulgaria's financial regulator said it has approved the publication of a buyout bid by Metalcomplektengineering for the remaining 68,464 shares it does not already own in commercial kitchen equipment manufacturer Torgoterm [BUL:TTV].
Metalcomplektengineering is offering to pay 6.0 levs ($3.8/3.1 euro) per share, the Financial Supervision Commission said in a statement on Monday.
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The 68,464 shares are equal to a 2.28% stake in Torgoterm.
Torgoterm, established in 1965, manufactures and imports professional kitchen equipment. The company exports around 80% of its output to Spain, Italy, France and other countries.
Metalcomplektengineering acquired a majority stake in Torgoterm in 2006.
(1 euro = 1.95583 levs)