July 1 (SeeNews) - French company Geopost's buyout offer for Bulgarian express delivery company Speedy [BUL:SPDY] was accepted by a single shareholder holding 234 shares in Speedy's capital, Speedy said.
The buyout bid was initially accepted by three shareholders who own a total 88,341 shares in Speedy but two of them subsequently withdrew from the procedure, the express delivery company said in a bourse filing earlier this week.
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Speedy's registered capital of some 5.4 million levs is divided into 5,377,619 shares with a nominal value of 1 lev each.
In May, Bulgaria's financial regulator allowed the publication of a revised buyout offer by Geopost for the remaining 1,623,711 shares it does not own in Speedy.
Earlier this year, Speedy said that Geopost is offering to pay 80 levs ($48.5/40.9 euro) per share for the 30.19% interest it wants to acquire.
The French company was obliged by law to launch the buyout bid after its stake in Speedy exceeded 50%. In March, Geopost acquired 45% interest in Speedy at a price of 58.67 levs per share, after it exercised a call option towards Speedy Group. Currently, Geopost owns 69.81% interest in Speedy, while Speedy Group owns 20.09%.
In 2014, Speedy acquired Geopost's units DPD Romania and Geopost Bulgaria, while Geopost agreed to acquire 25% of Speedy with the option to increase its stake to 70% by 2020.
Speedy's shares closed flat at 81.50 levs on the Bulgarian Stock Exchange on Thursday.
(1 euro = 1.95583 levs)