July 13 (SeeNews) - Bulgarian fuel retailer Synergon Petroleum has increased its capital to 4.0 million levs ($2.4 million/2.0 million euro) from 3.0 million levs, its majority owner, Toplivo, said on Friday.
Synergon Petroleum has issued 100,000 shares with a nominal value of 10 levs each, Toplivo said in a bourse filing.
The shares were subscribed for proportionally by Synergon Petroleum's two shareholders Toplivo and Synergon Holding.
Following the capital hike, Toplivo owns 300,448 Synergon Petroleum shares, while Synergon Holding owns the remaining 99,552 shares. Synergon Holding owns a 73.42% stake in Toplivo.
Last month, Bulgaria's competition regulator said that fuel retailer Rompetrol Bulgaria is seeking approval to acquire Synergon Petroleum for an undisclosed price.
Rompetrol Bulgaria is part of Romania-headquartered KMG International Group. Rompetrol Bulgaria has 54 filling stations in the country. KMG International Group is a wholly owned subsidiary of Kazakhstan's KazMunayGas.
Synergon Petroleum operates 30 petroleum and natural gas filling stations in Bulgaria.
(1 euro = 1.95583 levs)