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Bulgaria's Svinecomplex Nikolovo receives revised buyout bid from Viand

Bulgaria's Svinecomplex Nikolovo receives revised buyout bid from Viand Source: Pixabay

SOFIA (Bulgaria), October 9 (SeeNews) - Bulgarian pork producer Svinecomplex Nikolovo [BUL:6SN] said on Wednesday that it has received a revised buyout offer from local meat and animal feed producer Viand for the remaining 2.40% stake in the company it does not already own.

Viand is offering to pay 0.93 levs ($0.52/0.48 euro) per each of the 83,796 shares it aims to acquire, Svinecomplex Nikolovo said in a filing to the stock exchange in Sofia.

Last month, the the Financial Supervision Commission suspended the publishing of Viand's first revised buyout offer. The regulator suspended Viand's initial buyout bid in August due to a number of technical errors in the calculation of the offered price, as well as some missing documents, including a confirmation of Viand's capability to finance the buyout offer, the financial regulator said at the time. 

Viand acquired a 65.22% stake in Svinecomplex Nikolovo from local companies Pimaro Bulgaria and Hybrid in July, and subsequently a further 32.38% stake in the company from Luxembourg-based Westpark Financial Group.

In July, Bulgaria's Food and Safety Agency said that all 17,000 animals at the Svinecomplex Nikolovo's pig farm would be culled due to an outbreak of African swine fever at the facility.

(1 euro = 1.95583 levs)