January 22 (SeeNews) - Medical consumables maker Momina Krepost [BUL:5MR] and drug maker Sopharma [BUL:3JR] have agreed not to proceed with a planned merger, Momina Krepost said on Friday.
The decision, taken in the interest of both companies, is aimed at preserving their market positions, Momina Krepost said in a bourse filing.
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In October, Sopharma said it signed a merger contract with Momina Krepost which envisages that all Momina Krepost assets be transferred to Sopharma.
For each Momina Krepost share, shareholders would receive 0.655675 Sopharma shares, Sopharma said at the time.
Momina Krepost's capital consists of 1,691,184 shares with a par value of 1 lev a piece.
(1 euro=1.95582 Bulgarian levs)