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SOFIA (Bulgaria), March 15 (SeeNews) - Bulgarian diversified group Synergon Holding [BUL:6S7] said on Friday that it has launched a buyout bid for the remaining shares it does not own in lighting equipment retailer Svetlina [BUL:3LX].
Currently, Synergon Holding owns directly a 58% stake in Svetlina, the holding company said in a bourse filing.
The Financial Supervision Commission has not yet allowed publication of the buyout offer.
Synergon Holding was set up in 1996 as a privatisation fund under Bulgaria's voucher privatisation programme. The fund was transformed into a holding structure the following year. It has more than 25 subsidiaries and affiliated companies operating in various sectors of the Bulgarian economy.