Bulgaria's Energo-Pro Varna, a fully-owned subsidiary of
Czech power group Energo-Pro, has raised its buyout bids for power supplier
Energo-Pro Sales and power distributor Energo-Pro Grid to
23.25 levs ($13/11.9 euro) and 164.42 levs per share, respectively, the two
units said in separate statements on Friday.
Energo-Pro Varna targets to
buy 9.56% of Energo-Pro Sales and 9.82% of power distributor Energo-Pro
Grid.
Last month, the Bulgarian financial regulator sent back for
revision Energo-Pro Varna's buyout offer for its two units. At the time, the
company offered to pay 20.7 levs per share for the remaining 143,495 of
Energo-Pro Sale and 154 levs per share for 129,376 shares of Energo-Pro Grid it
does not own yet.
Apart from the price, Energo-Pro Varna has made no
other changes to the buyout offers, Energo-Pro Sales and Energo-Pro Grid said in
a bourse filings.
Energo-Pro Varna has said it does not intend to change
or terminate the operations of either of the two companies, nor change their
management, if it takes full control over them.
Energo Pro-Varna is also
the sole owner of Energo-Pro Energy Services, which provides electricity trading
and coordinator of standard balancing group.