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Bulgaria's Rodna Zemya Holding to acquire 100% of HIT Hypermarket

Bulgaria's Rodna Zemya Holding to acquire 100% of HIT Hypermarket Photo: HIT Hypermarket/All rights reserved.

SOFIA (Bulgaria), July 18 (SeeNews) - Bulgarian diversified group Rodna Zemya Holding [BUL:6R2] said on Thursday that it has signed a contract with Germany-based HIT Bulgarien GmbH for the acquisition of 100% of its wholly-owned Sofia-headquartered unit HIT Hypermarket EOOD.

The deal is subject to approval by Bulgaria's competition authority, the company said in a bourse filing. 

The capital of HIT Hypermarket is divided into 221,000 shares of 100 levs ($57.4/51.1 euro) in par value each.

HIT entered the Bulgarian market in 2004. HIT Hypermarket operates two stores in Sofia, offering a wide variety of food and non-food products. 

In June, Bulgaria's Financial Supervision Commission said that it has approved the prospectus of Rodna Zemya Holding for a capital increase via a new share issue. Rodna Zemya Holding will seek to raise up to 36 million levs by offering 20 million shares at a price of 1.8 levs each, the financial regulator.

Rodna Zemya Holding's shares last traded on the Bulgarian Stock Exchange at a price of 2.0 levs on Wednesday.

(1 euro = 1.95583 levs)

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