SOFIA (Bulgaria), August 8 (SeeNews) – Bulgarian industrial group Stara Planina Hold [BUL:5SR] said on Tuesday it has published a buyout bid for the remaining 8.25% of the capital of sock manufacturer Fazan [BUL:4F5] it does not already own.
The group is offering to pay 1.41 levs ($0.85/0.72 euro) for each of the 101,874 shares in Fazan it aims to acquire from minority shareholders, Stara Planina Hold said in a bourse filing.
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Following the buyout bid, Stara Planina Hold will propose to delist Fazan from the stock exchange in Sofia, the industrial group said.
On Monday, Bulgaria’s financial regulator said it has granted approval to Stara Planina Hold to publish a buyout bid for Fazan at a price of 1.41 levs per share. In June, the FSC said it has suspended the publishing of Stara Planina’s initial buyout offer, which was also priced at 1.41 levs per share, due to technical deficiencies.
Shares of Stara Planina Hold [BUL:5SR] closed 1.19% higher at 8.5 levs in a trading volume of 1,400 units on Tuesday.
(1 euro = 1.95583 levs)