SOFIA (Bulgaria), August 3 (SeeNews) – Bulgarian drug maker Sopharma [BUL:3JR] said on Thursday it has increased its stake in local peer Unipharm [BUL:59X] by acquiring a further 1,537 shares in the company at a price of 4.35 levs ($2.6/2.2 euro) apiece.
Three shareholders have availed themselves of the right to propose to Sopharma to acquire their shares in Unipharm after Sopharma increased its stake in the company to over 95% in a buyout bid in June, Sopharma said in a bourse filing.
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Under Bulgarian law, after Sopharma’s stake in Unipharm surpassed 95% as a result of the buyout bid, existing shareholders have a three-month period to ask Sopharma to acquire their shares at a price equal to the one offered in the buyout. Sopharma is obliged to acquire the shares within 30 days of receiving notification from minority shareholders.
Unipharm shareholders' right to ask Sopharma to acquire their shares expires on September 19.
In June, Sopharma increased its stake in Unipharm to 96.63%, from 77.88%, in a buyout priced at 4.35 levs per Unipharm share.
As at 15:00 CET on Thursday, Sopharma shares were traded 0.27% higher at 4.9 levs.
(1 euro=1.95583 levs)