April 17 (SeeNews) - Bulgarian holding company Synthetica [BUL:0SYA] said on Tuesday it is seeking the approval of its shareholders to take out two loans in order to finance the acquisition of local company Motobul, Romania's Rottco Consult and Cyprus-based Bluehouse Accession Project V.
Synthetica intends to acquire Bluehouse Accession Project V for a price of 18-23 million euro ($22.2-28.4 million), the company said in a bourse filing.
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In order to finance the acquisition, Synthetica will seek a loan of between 15 million euro and 19 million euro.
The holding company will also seek a second loan, of of up to 10 million euro but no less than 5 million euro to finance the purchase of a 100% stake in Bulgarian motor oil distributor Motobul and a majority stake in Romanian fuel wholesaler Rottco Consult.
Synthetica's shareholders will vote on the proposals at a general meeting scheduled for May 18.
Synthetica's subsidiaries are active in several fields, including production of medical consumables, operation of hotels, transport and others.
($=0.8099 euro)