SOFIA (Bulgaria), August 5 (SeeNews) - German minerals extracting and processing company Quarzwerke raised its stake in Bulgarian peer Kaolin [BUL:6K1] to 95.33%, Kaolin said.
As of July 29, Quarzwerke owns 47,667,411 Kaolin shares, the company said in a bourse filing on Friday.
You can subscribe to our M&A newsletter here
At the end of May Quarzwerke completed the acquisition of 87% of Kaolin from Alfa Finance Holding at 4.156 levs ($ 2.8309/2.125 euro) per share.
In June the German company increased its stake in Kaolin to 90.12% and made a buyout offer for the remaining 4,938,462 shares.
Kaolin was trading flat at 4.156 levs per share by 1226 CET on Monday.
(1 euro = 1.95583 Bulgarian levs)