Bulgarian diversified group Industrial Holding Doverie has submitted an improved offer for the remaining 9.36% stake in local company Hydroizomat [BUL:4HI] it does not already own, priced at 1.43 levs ($0.84/0.73 euro) per share, the insulation materials producer said on Tuesday.
Earlier this month, the Financial Supervision Commission banned the publishing of Industrial Holding Doverie's initial offer, which was priced at 1.355 levs per share.
The group is seeking to acquire 279,870Hydroizomat shares, Hydroizomat said in a statement. Industrial Holding Doverie boosted its stake in Hydroizomat from 60.53% to 90.64% in several transactions throughout June.
Industrial Holding Doverie is a wholly owned unit of local group Doverie United Holding [BUL:5DOV]. Doverie United Holding owns directly a 78.5% stake in Industrial Holding Doverie, and the remaining 21.5% through its subsidiaries Homogen, United Health Insurance Fund Doverie and Medico 21.
(novinite.com)
