October 2 (SeeNews) - Luxembourg-based Pabolux said that it has acquired 31,571 shares in Bulgaria's Belovo Paper Mill [BUL:58B] through a buyout bid priced at 2.25 levs ($1.34/1.15 euro) per share.
The buyout bid targeted 436,858 Belovo Paper Mill shares, which Pabolux did not own at the time.
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A total of 12 shareholders have accepted the offer, Pabolux said in a statement.
The 31,571 shares are equal to a 0.55% stake in Belovo Paper Mill. Pabolux held 92.39% of Belovo Paper Mill before the buyout bid.
Upon launch of the bid, Pabolux said it intends to delist Belovo Paper Mill from the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)