SOFIA (Bulgaria), May 23 (SeeNews) – Blue chip Industrial Holding Bulgaria [BUL:4ID] said on Tuesday its subsidiary ZMM Bulgaria Holding intends to launch a buyout bid for the shares it does not already own in IHB Electric.
“ZMM Bulgaria Holding owns 93.96% of the capital of IHB Electric as of the date of the notification,” Industrial Holding Bulgaria said in a press release.
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ZMM Bulgaria Holding expects to register the tender offer with the Financial Supervision Commission on September 4, according to the press release.
Following the buyout transaction, ZMM Bulgaria Holding plans to delist IHB Electic from the Sofia bourse.
IHB Electric produces hydro power generators, electric motors, turn-key electro-mechanical equipment and provides services for hydro power plants, pumping stations and irrigation systems.
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