May 22 (SeeNews) - Bulgarian lighting equipment retailer Svetlina [BUL:3LX] said on Tuesday that its majority owner, diversified group Synergon Holding [BUL:6S7], has sold a 30.52% stake in the company to local fuel retailer Erast for an undisclosed price.
Following the transaction, Synergon Holding holds a 55.0% stake in Svetlina, the lighting equipment retailer said in a bourse filing.
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Erast did not own any Svetlina shares before the transaction, according to the statement.
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)