SOFIA (Bulgaria), May 18 (SeeNews) – TBI Bulgaria, a wholly-owned subsidiary of Vienna Insurance Group (VIG), said it has launched a buyout bid for the remaining 0.62% of the capital of Sofia-based Bulstrad Vienna Insurance Group [BUL:4BI] it does not already own.
TBI Bulgaria has offered to pay 31.11 levs ($17.7/15.9 euro) for each of the 19,559 shares it targets to acquire, the company said in a statement on Monday.
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TBI will also consider delisting Bulstrad VIG from the Sofia bourse, it added.
Bulstrad VIG closed 9.47% higher at 44.5 levs on the Sofia bourse on Thursday, as 32 company shares changed hands.
(1 euro = 1.95583 levs)