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Cyprus' Covotsos Textiles further cuts stake in Bulgaria's Zenit Investment Holding

Cyprus' Covotsos Textiles further cuts stake in Bulgaria's Zenit Investment Holding Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), January 6 (SeeNews) - Bulgarian diversified group Zenit Investment Holding [BSE:ZNTH] said that Cyprus-based Covotsos Textiles has further reduced its shareholding interest in the group - to 9.80% from 18.88%, in a deal concluded on December 30.

Covotsos Textiles holds 24,348 shares in the capital of Zenit Investment Holding after the transaction, the Bulgarian company said in a bourse filing on Wednesday.

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Last month, Zenit Investment Holding said that Covotsos Textiles reduced its stake in the company to 18.88% from 28.58% held previously.

Covotsos Textiles acquired 28.58% of Zenit Investment Holding for an undisclosed price in 2019.

Shares in Zenit Investment Holding last traded on the Bulgarian Stock Exchange on December 13, when they closed unchanged at 7.50 levs ($4.35/3.83 euro).

(1 euro = 1.95583 levs)

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