Bulgaria's financial regulator said that it has temporarily suspended a buyout bid by local confectionery producer Pobeda for 1,487,706 shares in the capital of its majority-owned unit Prime Property BG REIT [BUL:PPBG].
The regulator did not provide further details in its statement published on Thursday.
Last month, Prime Property BG REIT said that Pobeda offered to buy out the minority shareholders of the property investment trust, having notified earlier of an increase in its ownership to 95.84%.
Prime Property BG said earlier in March that Pobeda increased its holdings from 94.85% of the REIT by purchasing a total of just over 16 million shares. Pobeda bought 7.8 million shares from Balkan Investment Co and 8.25 million shares from other minority shareholders.