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Germany's Quarzwerke raises stake in Bulgaria's Kaolin to 95.33%

Author Dena Popova
Germany's Quarzwerke raises stake in Bulgaria's Kaolin to 95.33%

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.

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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)

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