INVESTMENT NEWS
French GeoPost acquired its first large package of Speedy shares
French company GeoPost made the first step towards the acquisition of a considerable minority share in the Speedy delivery company with buying 11% of its shares against BGN 12 million in a deal on the BSE – Sofia.
The strategic intention of the foreign investor is to increase its stake to 25% from Speedy’s capital. The move is part of a larger deal for the acquisition of the French company’s Bulgarian and Romanian subsidiaries by Speedy. Danail Danailov, member of the Board of Directors of Speedy, explained thatGeoPost’s subsidiaries in Bulgaria and Romania will remain separate companies.
A total of BGN 32.4 million is necessary for their acquisition and further investments in the two companies.
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INVESTMENT NEWS
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