March 31 (SeeNews) - Bulgaria's Prime Property BG REIT [BUL:PPBG] said that local confectionery manufacturer Pobeda has increased its ownership in the real estate investment trust to 95.84% from 94.85% after a share purchase completed on Tuesday.
Pobeda bought a total of just over 16 million shares in the REIT, with 7.8 million acquired from Balkan Investment Co, and the balance of 8.25 million units from other unnamed shareholders, Prime Property BG said in a bourse filing on Wednesday.
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The shares were purchased at a price of 0.61 levs apiece, giving the transaction a total value of some 9.79 million levs ($5.56 million/5 million euro), a regulatory notice from Pobeda to the financial watchdog showed.
As a result of the deal, Balkan Investment Co has exited its previous stake of 21.84% in the target business, another bourse document showed.
In August 2021, Pobeda -- which makes biscuits, pralines, croissants, wafers and mini cakes - carried out several share purchases to increase its holding in Prime Property BG to 94.85% from 28.93% earlier.
The REIT's portfolio includes investments in office and commercial properties, gated vacation communities as well as residential buildings.
Shares in Prime Propetry BG closed 0.45% higher at 0.452 levs in its most recent trading session on the BaSe market of the Bulgarian Stock Exchange on March 16.
(1 euro = 1.95583 levs)