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Czech online retailer to acquire 4.962% stake in Bulgaria's eBag

Author Mario Tanev
Czech online retailer to acquire 4.962% stake in Bulgaria's eBag License: Creative Commons CC0

SOFIA (Bulgaria), July 2 (SeeNews) - Czech Republic-based Velka Pecka, which operates online grocery retailer, plans to acquire 4.962% interest in Bulgaria's Convenience, which operates online grocery shop, for 500,000 euro ($563,000), according to documents entered into Bulgaria's commercial register on Thursday.

Velka Pecka intends to subscribe for 3,945 newly-issued Class C shares in Convenience at a price of 126.7427 euro apiece, the minutes from Convenience's recent shareholders meeting show.

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The Czech company has declined to name a member to sit on Convenience's board of directors after it becomes a shareholder, according to the documents.

The capital increase has not yet been entered into the commercial register.

Velka Pecka is set to become the sixth investor in Convenience, along with Eleven Investments, HR Capital, MFG Investments and private individuals Ivan Alexandrov and Ivaylo Karamanolev.

Convenience generated revenue of 5 million levs and a net loss of 137,000 levs in 2018, according to the company's latest annual financial statement available.

Last week, Radio Prague International reported that has expanded to Bulgaria by acquiring a stake in local peer eBag for 1 million euro.

($ = 0.8877 euro) 

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