SOFIA (Bulgaria), June 21 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] has increased its stake in local peer Unipharm [BUL:59X] to 96.63%, from 77.88% in a buyout bid, the investment intermediary which handled the deal said on Wednesday.
A total of 65 Unipharm shareholders, holding 1.12 million shares among them, have accepted Sopharma’s offer of 4.35 levs ($2.48/2.22 euro) per share, Sofia-based Elana Trading said in a statement.
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As the company’s stake in Unipharm surpasses 95%, existing shareholders might ask Sopharma to acquire their shares at a price equal to or higher than the one offered in the initial buyout offer. Under Bulgarian law, Sopharma will be obliged to acquire the shares within 30 days after receiving notification from the shareholders.
Sopharma shares closed 0.2% up at 4.458 levs on Tuesday.
(1 euro=1.95583 levs)