Bulgaria’s Alfa Finance Holding to launch buyout bid for Solarpro Holding

Bulgarian provider of products and services for the solar industry Solarpro Holding [BUL:0S8] said on Tuesday its majority owner Alfa Finance Holding intends to launch a buyout bid for the remaining 5.54% stake in the company it does not already own.

Alfa Finance plans to propose a price of 0.76 levs ($0.46/0.39 euro) per each of the 2.59 million shares it targets to acquire, Solarpro Holding said in a bourse filing.

The deadline for accepting the bid will be 28 days following its publication.

Currently, Alfa Finance owns directly and indirectly a 94.46% stake in Solarpro Holding.

Last week, 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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