November 14 (SeeNews) - Bulgarian confectionery producer Pobeda said on Monday it launched a revised buyout offer of 0.66 levs per share for its majority-owned subsidiary Prime Property BG REIT [BUL:PPBG], raising the original price of 0.63 levs per share.
Pobeda, which owns a stake of 97.61% in Prime Property, is seeking to buy the remaining 854,260 shares, the confectionery producer said in a press release.
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The company will use available funds to finance the deal whose value could reach 563,812 levs ($296,280/288,272 euro).
Pobeda made its original bid in September. The Financial Supervision Commission (FSC), however, suspended the offer in October, saying a recalculation of the fair price is needed because of inaccurate data.
Pobeda now said it estimated the fair value at 0.66 levs per share, using two valuation methods.
The company launched the revised offer after receiving permission from the FSC last week.
(1 euro = 1.95583 levs)