June 14 (SeeNews) - Insurance company Euroins Romania has increased its stake in Bulgarian real estate investment trust (REIT) Bulland Investments [BUL:5BD] to 15.13% from 0.26% by acquiring the entire stake owned by Sofia-based Euro Finance, the REIT said on Wednesday.
Euroins Romania and Euro Finance are both parts of Bulgarian financial group Eurohold Bulgaria [BUL:4EH].
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Euroins Romania has acquired a total of 2.27 million shares in Bulland Investments, representing Euro Finance's stake of 14.87%, Bulland Investments said in a bourse filing.
The transaction took place on June 9.
Bulland Investments specialises in the acquisition and leasing of agricultural land.
Shares in Bulland Investments closed flat at 0.949 levs ($0.546/0.483 euro) on the Bulgarian Stock Exchange on Wednesday.
(1 euro = 1.95583 levs)