June 19 (SeeNews) - Bulgarian lighting equipment retailer Svetlina [BUL:3LX] said on Wednesday that local diversified group Synergon Holding [BUL:6S7] is planning to launch a second buyout offer, this time targeting the remaining 9.92% which it could not acquire in its previous bid.
Earlier this month, Synergon Holding acquired a 32.08% stake in Svetlina via a buyout bid priced at 5.5 levs ($3.2/2.8 euro).
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Synergon Holding intends to offer a price of 20 levs per share for the remaining 43,879 shares it wants to acquire, Svetlina said in a bourse filing.
Regardless of the outcome, Synergon Holding intends to delist Svetlina from the Bulgarian Stock Exchange.
The Financial Supervision Commission has not yet allowed publication of the buyout offer.
Svetlina shares last traded on the Bulgarian Stock Exchange at a price of 7.0 levs per share.
Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.
(1 euro = 1.95583 levs)