February 16 (SeeNews) - Bulgarian software developer Sirma Group Holding [BUL:SGH] said on Thursday that its shareholders authorised its subsidiary Sirma Solutions to divest its entire stake in semantic technology unit Sirma AI in a 9.46 million euro ($10.12 million) deal.
The divestment should close by March 31, Sirma Group said in a stock exchange filing.
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Taking into account the book value of Sirma AI, Sirma Solutions is expected to lose some 2 million levs ($1.09 million/1.02 million euro) from the sale.
In December, Sirma Solutions agreed to sell its entire stake of 23.80% in Sirma AI to three buyers, with most of the shares going to the European Bank for Reconstruction and Development.
As of the end of last year, Sirma Group owned 80.11% of Sirma Solutions, its most recent interim financial report showed.
($ = 0.9346 euro)