Bulgaria's Alfa Finance boosts stake in Solarpro through subsidiary

Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said that Sofia-based Renalfa, a subsidiary of local Alfa Finance Holding, has increased its stake in Solarpro by acquiring 220,000 of its shares.

Renalfa acquired the shares at a weighted average price of 0.67 levs ($0.41/0.34 euro) apiece on December 22, Solarpro Holding said in a bourse filing last week.

Earlier this month, Alfa Finance Holding increased its buyout offer for the remaining 5.54% stake in Solarpro Holding it does not already own directly or through its subsidiaries to 0.78 levs per share. The buyout bid is still pending approval by the financial regulator. The initial buyout bid, launched in October, was priced at 0.76 levs per share but was suspended by the Financial Supervision Commission.

In October, Renalfa bought a total of 7.3 million Solarpro Holding shares, representing a 15.6% stake.

(1 euro = 1.95583 levs)

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