September 26 (SeeNews) - Bulgaria’s financial supervisor said it has decided to delist Electrohold Sales [BUL:CEZE] and Electrodistribution Grid West [BUL:CEZD], or EDG West, from the Bulgarian Stock Exchange after their majority owner acquired full ownership of the two companies.
The two companies' shares are being removed from the register of public companies, the Financial Supervision Commission said in a notice on its website last week.
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Trading in the two companies' shares has been suspended since September 9 after energy and insurance group Eurohold Bulgaria [BUL:EUBG] said its indirect subsidiary Eastern European Electric Company (EEEC) acquired full ownership of Electrohold Sales and EDG Westt.
Under the transaction, EEEC bought the remaining 14,416 shares of EDG West for a total of 4.4 million levs ($ 2.17 million/2.25 million euro). The remaining 117 shares of Electrohold Sales were bought for a total of 3.4 million levs.
EDG West and Electrohold Sales are former units of Czech energy group CEZ.
(1 euro = 1.95583 levs)