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CEZ Distribution Bulgaria shares jump as parent starts exclusive sale talks with Eurohold

Author Mario Tanev
CEZ Distribution Bulgaria shares jump as parent starts exclusive sale talks with Eurohold Photo: Bulgarian Stock Exchange / All rights reserved.

SOFIA (Bulgaria), April 17 (SeeNews) - Power utility CEZ Distribution Bulgaria [BUL:3CZ] was among the top gainers on the Bulgarian Stock Exchange on Wednesday, after earlier in the day its parent company - Czech energy group CEZ, announced that it has entered into exclusive talks with local financial and insurance group Eurohold Bulgaria [BUL:4EH] over the sale of its assets in the country, including CEZ Distribution.

The other BSE-listed CEZ unit - CEZ Electro Bulgaria [BUL:1CZ], did not trade on Wednesday.

Eurohold Bulgaria shares edged up 0.54% to 1.86 levs on Wednesday.

CEZ Distribution Bulgaria was the top gainer among members of the wider BGBX40 index and the equally-weighted BGTR30 index.

The BGBX40, which tracks the 40 most traded shares on the Sofia bourse, rose 0.26% to 115.27 points, while the BGTR30, in which companies with a free float of at least 10% have equal weight, fell 0.07% to 501.23 points.

The blue-chip SOFIX index edged down 0.02% to 575.51 points, breaking its two-day winning streak.

Diversified group Doverie United Holding [BUL:5DOV] fell most among blue chips, losing 2.22% to 2.64 levs, followed by peer Holding Varna [BUL:5V2] with a 2.0% drop to 39.2 levs.

The BGREIT index, which tracks real estate investment trusts, decreased 0.05% to 120.76 points, solely due to a 0.27% decline in the share price of Advance Terrafund REIT [BUL:6A6].

Total trading turnover on the BSE regulated market plunged to 128,000 levs ($74,000/65,000 euro) on Wednesday from 1.18 million levs on Tuesday.

(1 euro = 1.95583 levs)

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