Bulgarian financial regulator suspends Alfa Finance bid for 5.5% of Solarpro

Bulgaria’s financial regulator said it has temporarily suspended a bid by local Alfa Finance Holding to acquire the remaining 5.54% stake in Solarpro Holding [BUL:0S8] it does not already own.

Alfa Finance is proposing to pay 0.76 levs ($0.46/0.39 euro) per each of the 2.59 million shares of the Sofia-based provider of products and services for the solar industry it targets to acquire, the Financial Supervision Commission said in a statement last week.

Last month, two subsidiaries of Alfa Finance Holding bought a total of 13.5 million Solarpro shares, equivalent to a 28.96% stake in the company.

(1 euro = 1.95583 levs)

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