July 24 (SeeNews) - Bulgaria's Energoremont Holding [BUL:6EG] said on Monday it will announce later this week the acquisition of a controlling stake in the company by Dutch-registered maintenance and engineering services provider Dietsmann.
More details will be revealed on Thursday during a news conference in Sofia at which the new majority owner will be presented, Energoremont Holding said in a statement.
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Bulgaria's Commisison for Protection of Competition said earlier this month that Dietsmann had filed for regulatory approval to acquire an unspecified stake in Energoremont Holding.
Dietsmann was founded in 1977. Its operations include maintenance services for continuous-production plant in the oil and gas, power and mining industries.
Energoremont Holding is specialized in rehabilitation, reconstruction, modernization and construction of power systems in thermal power plants, hydropower plants and nuclear power plants.
The company's shareholders include local companies Milinya 77 with 33.03%, Balgarska Energetika with 32.09%, Novi energiini i industrialni tehnologii and Geopribor with 21.59% and 10.80%, respectively.
The company generated a net loss of 12.3 million levs ($7.1 million/6.29 million euro) in 2016 on revenues of 38.2 million levs.
Energoremont Holding shares were last traded on July 18 when they closed flat at 3.5 levs on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)