SOFIA (Bulgaria), November 29 (SeeNews) – German mineral extracting and processing company Quarzwerke said on Friday it has become full owner of Bulgarian peer Kaolin [BUL:6K1] following a squeeze-out.
Following a series of deals on the Bulgarian stock exchange, with November 28 as the date of settlement with the Central Depository of the last of them, Quarzwerke directly owns 50 million shares of Kaolin, or 100% of its capital, the German company said in a bourse filing.
You can subscribe to our M&A newsletter here
Earlier this month Quarzwerke launched a squeeze-out offer for 873,427 Kaolin shares, representing 1.75% of the company. The company bought some 87% of Kaolin from Bulgaria's Alfa Finance Holding in May and increased its stake in the company later.