SOFIA (Bulgaria), August 8 (SeeNews) – Bulgarian diversified holding TK Hold [BUL:T24] said on Tuesday it has increased its shareholding interest in local linen manufacturer Rilski Len [BUL:4OB] to 91.73% after acquiring 309,190 shares equal to a 70% stake in the company.
TK Hold bought the shares of Rilski Len from Samokov-based Rilenatex company.
You can subscribe to our M&A newsletter here
Following the purshase, TK Hold now owns 405,173 Rilski Len shares, TK Hold said in a bourse filing.
Last month, Rilenatex announced it intends to sell up to 309,190 shares of Rilski Len through the Bulgarian Stock Exchange (BSE).
On August 4, 309,190 Rilski Len shares changed hands in a block deal on the BSE at a price of 11 levs ($6.6/5.6 euro) apiece, bourse data showed.
Rislki Len, also based in Samokov, manufactures linen and linen products. The company has a registered capital of 441,707 levs spread in 441,707 shares with a nominal value of 1 lev each.
(1 euro = 1.95583 levs)