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Bulgaria's Tomov Development further ups stake in hotel operator Velina

Author Mario Tanev
Bulgaria's Tomov Development further ups stake in hotel operator Velina Author: Ken Teegardin. Licence: Creative Commons.

SOFIA (Bulgaria), January 14 (SeeNews) - Bulgarian hotel operator Velina [BUL:4VE] said that local Tomov Development has acquired a further 38 shares in the company, after boosting its stake to 99.43% via a buyout offer in December.

Tomov Development acquired the shares after their holder requested the company to do so, according to a statement published by Velina last week.

All other remaining shareholders also have the right to do the same and Tomov Development will be obliged to purchase their shares at a price equal to the one of the buyout offer - 8.40 levs ($4.74/4.29 euro) per share.

Tomov Development acquired some 74,701 shares from 65 minority shareholders through its initial bid.

Velina shares last traded on the Bulgarian Stock Exchange at a price of 8.35 levs.

(1 euro = 1.95583 levs)

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