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Bulgaria's Tomov Development launches buyout bid for hotel operator Velina

Author Mario Tanev
Bulgaria's Tomov Development launches buyout bid for hotel operator Velina Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SOFIA (Bulgaria), October 15 (SeeNews) - Bulgarian hotel operator Velina said that local Tomov Development has launched a buyout bid for the remaining 83,397 shares in the company, or a 5.45% stake, it does not currently own, priced at 8.40 levs ($4.74/4.29 euro) per share.

Tomov Development acquired 94.55% interest in Velina through deals in the period September 30 - October 8, according to data from the offer, published by Velina earlier this week.

The buyout bid values Velina at some 12.85 million levs.

The offer has not yet been approved by the Financial Supervision Commission.

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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