Liechtenstein-based PFHC Establishment Gets Nod for Bulgarian Balkantourist Elit Buyout Bid

PFHC Establishment offers 1.93 levs ($1.27/0.99 euro) per share, the Financial Supervision Commission said in a statement, providing no further details.

The Liechtenstein company held 92% of Balkantourist Elit's share capital of 39.1 million levs at the end of September, according to latest data available.

Balkantourist Elit is the majority owner of a travel and tourism company and an asset manager company and also has stakes in hotel operators, travel service providers and a steel profiles maker.

Shares of Balkantourist Elit were not traded on the Sofia bourse on Tuesday. They last traded on November 19, closing 3.6% lower at 0.8 levs in a volume of just 25 stocks.

(1 euro = 1.95583 Bulgarian levs)