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Bulgaria's Neo London Capital sweetens buyout bid for Premier Fund REIT

Author Mario Tanev
Bulgaria's Neo London Capital sweetens buyout bid for Premier Fund REIT wrangler/Shutterstock.com

SOFIA (Bulgaria), March 26 (SeeNews) - Bulgaria's Premier Fund REIT [BUL:4PR] said that local investment firm Neo London Capital [BUL:178B] has increased the price of its buyout bid for the company to 10.51 levs ($5.86/5.37 euro) per share from 10.501 levs offered initially.

Neo London Capital if seeking to acquire the remaining 36.11% interest, or 650,000 shares, it does not currently own in Premier Fund REIT, the real estate investment trust said in a statement on Wednesday.

The company's initial buyout bid was suspended by the Financial Supervision Commission, which asked for corrections last month.

Neo London Capital [BUL:178B] acquired a 63.89% stake in the company in January, as it subscribed for 1,149,999 shares offered by Premier Fund REIT as part of a capital increase. Neo London Capital acquired the shares at a price of 10.5 levs apiece.

Premier Fund REIT shares last traded on the Bulgarian Stock Exchange at a price of 7 levs.

(1 euro = 1.95583 levs)

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