October 25 (SeeNews) - Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said on Wednesday its board of directors has expressed the opinion that the buyout offer made by Alfa Finance Holding is fair to the minority shareholders.
The buyout bid is fair both in terms of offered price, which is in line with the regulatory requirements, and in terms of the offeror’s intentions regarding the company’s future development, Solarpro Holding said in a bourse filing.
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On Tuesday, Solarpro Holding said its majority owner Alfa Finance Holding intends to launch a buyout bid for the remaining 5.54% stake in the company it does not already own at a price of 0.76 levs ($0.46/0.39 euro) per share.
Last week, two subsidiaries of Alfa Finance Holding bought a total of 13.5 million Solarpro shares, equivalent to a 28.96% stake in the company.
As at 14:40 CET on Wednesday, Solarpro Holding shares traded 25.51% higher at 0.615 levs.
(1 euro = 1.95583 levs)