Bulgaria's FSC suspends Tomov Development buyout bid for Velina

Bulgaria's FSC suspends Tomov Development buyout bid for Velina

Bulgaria's Financial Supervision Commission (FSC) said that it has suspended the publication of a buyout offer by Tomov Development for the remaining 83,397 shares in hotel operator Velina it does not own.The regulator did not provide further details in its statement, published on Tuesday.Last month, Velina said that it has received a buyout offer by Tomov Development, priced at 8.40 levs ($4.74/4.29 euro) per share.Tomov Development acquired 94.55% interest in Velina through deals in the period September 30 - October 8.The buyout bid values Velina at some 12.85 million levs.Velina shares last traded on the Bulgarian Stock Exchange at a price of 8.35 levs.

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