Bulgaria's Puldin Holding acquires TIZ Invest

The deal, in which Puldin purchased some 9.83 million TIZ Invest shares, aims to expand and diversify the group's portfolio of subsidiaries, Puldin Holding said in a bourse filing.

The payment will be made in two installments, with 2.06 million levs due by the end of this month and the remainder to be paid by February 29, 2024.

TIZ Invest, formerly Black Sea Star, is active in the purchase and resale of goods, foreign trade, real estate deals and hospitality, among others, according to its website.

Puldin Holding holds majority stakes in local metal packaging producer Metalopack [BUL:METK] and crane manufacturer Podemstroymash, as well as a minority shareholding in grinding machines manufacturer Grinding Producing Plant, its website shows.

(1 euro = 1.95583 levs)