Bulgaria's Alfa Finance Holding sweetens buyout bid for Solarpro Holding

Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said its majority owner Alfa Finance Holding has increased its buyout offer to 0.78 levs ($0.47/0.40 euro) per share.

The initial buyout bid, launched in October, was priced at 0.76 levs per share.

Alfa Finance Holding is seeking to acquire the remaining 2.59 million Solarpro Holding shares it does not already own, equivalent to a 5.54% stake, Solarpro said in a bourse filing on Monday.

Last month, Bulgaria’s Financial Supervision Commission said it has temporarily suspended Alfa Finance Holding’s buyout bid for the minority stake in Solarpro Holding. In October, two subsidiaries of Alfa Finance Holding bought a total of 13.5 million Solarpro shares,representing a 28.96% stake in the company.

(1 euro = 1.95583 levs)

Choose your newsletter by Renewables Now. Join for free!