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Bulgarian Bromak named buyer of Agro Finance's 21.6 per cent stake

Tue, Oct 26 2010 08:26 CET

byDnevnik.bg

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Bulgarian Bromak named buyer of Agro Finance's 21.6 per cent stake

Photo: Krassimir Yuskesseliev

Bulgarian company Bromak has emerged as the buyer of the 21.6 per cent stake in local real estate investment trust (REIT) Agro Finance, according to Central Depository data on October 25 2010.

The 7.11 million leva deal was carried out on the Bulgarian stock exchange last week via the sale of 6 969 431 Agro Finance shares at a price of 1.02 leva each by Plovdiv-based property investment company Galaxy Property Group.

Bromak, through which businessman Tsvetan Vassilev holds a controlling stake in local Corporate Commercial Bank, thus becomes the REIT's largest shareholder, followed by German Caceis Bank Deutschland with a 21.17 per cent interest and the funds of pension insurer Doverie with 20.9 per cent.

Among the REIT's minority shareholders are also Allianz Bulgariа, pension insurer Saglasiе and insurers Bulstrad and Bulstrad Life. Dnevnik, could not reach Vassilev for comment.

Source: Dnevnik.bg

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