April 13 (SeeNews) - Bulgarian commercial kitchen equipment manufacturer Torgoterm [BUL:TTV] said on Friday that local company Metalcomplektengineering has launched a bid for the remaining 2.28% shareholding interest in Torgoterm it does not already own.
Metalcomplektengineering is offering to pay 6.0 levs ($3.8/3.1 euro) per each of the 68,464 shares it wants to acquire and does not intend to make any changes to Torgoterm's core activities following the takeover of the minority stake, Torgoterm said in a statement.
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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)