Bulgaria's Shelly Group raises stake in Slovenian unit

The move marks the second phase of Shelly Group's acquisition of the Slovenian firm, based on an option agreement with three individual target company shareholders, the Bulgarian company said in a bourse filing.

The remaining 24% stake in Shelly Tech, held by the three partners, is subject to an additional call/put option, which can be exercised in 2026 under the agreed terms.

Shelly Group, previously Allterco, acquired 60% of Shelly Tech for 2 million euro last January in the first stage of its agreed takeover of the Slovenian company.

As of 1603 CET on Thursday, shares in Shelly Group traded 1.72% higher at 59.00 levs ($32.6/30.2 euro) on the Bulgarian Stock Exchange.

($ = 0.9252 euro)