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Bulgaria's Capital Fort planning 20.5 mln euro cap hike

Author Mario Tanev
Bulgaria's Capital Fort planning 20.5 mln euro cap hike tanatat/Shutterstock.com

SOFIA (Bulgaria), October 14 (SeeNews) - Bulgarian real estate developer Capital Fort is planning to hike its capital by 40 million levs ($22.5 million/20.5 million euro) to 41.6 million levs via a new share issue, according to competition regulator data, published on Monday.

Following the increase, local Fort Knox will control a 95.18% stake in Capital Fort, while British Virgin Islands-registered Balkan Business Buildings will own the remaining 4.82%, the Commission for Protection of Competition said in a statement.

The capital increase does not need anti-trust clearance as both Fort Knox and Balkan Business Buildings are currently shareholders in Capital Fort, the regulator said.

(1 euro = 1.95583 levs)

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