March 18 (SeeNews) - Bulgarian battery manufacturer Monbat's [BUL:MONB] said on Friday that it has proposed to its shareholders to approve the sale of the company's Austria-based subsidiary Monbat Immobilien.
At a meeting scheduled for April 21, Monbat's shareholders will vote on conducting negotiations for the sale of the company's investment in the capital of Monbat Immobilien in accordance with an offer submitted by an unnamed potential buyer, Monbat said in a bourse filing, without disclosing the offered price.
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Monbat will also seek the shareholders' consent for negotiations and sale of buildings, land plots, and fixed assets owned by its subsidiary in the Austrian town of Schwarzenau.
As at 10:23 CET on Friday, shares in Monbat traded 0.88% lower at 5.60 levs ($3.17/2.86 euro) on the floor of the Sofia bourse.
(1 euro = 1.95583 levs)