Eurohold Bulgaria Leads Sofia Bourse Blue-chip Decliners After CEZ Bid Notice

Eurohold Bulgaria Leads Sofia Bourse Blue-chip Decliners After CEZ Bid Notice

Financial and insurance group Eurohold Bulgaria fell most among Bulgarian Stock Exchange blue chips on Tuesday, closing 2.63% lower at 1.85 levs.Minutes before the Sofia bourse end bell on Monday, Eurohold Bulgaria announced that it has tabled a binding offer for the assets of Czech energy group CEZ in Bulgaria. In parallel, Eurohold is looking into the possibility to divest part of non-insurance assets in order to focus on its high growth potential business segments, the holding company said in its statement.Eurohold Bulgaria shares ended 1.04% lower on Monday.CEZ Distribution Bulgaria shares advanced 0.92% on Monday and added a further 6.36% on Tuesday, while the other BSE-listed CEZ unit - CEZ Electro Bulgaria, did not trade during the two sessions.The blue-chip SOFIX index dropped 0.20% to 579.75 points on Tuesday, as the decrease in Eurohold's share price was complemented by a 1.65% drop in the share price of First Investment Bank The BGBX40, which tracks the 40 most traded shares on the Sofia bourse, added 0.12% to 116.06 points, as CEZ Distribution Bulgaria led gainers among its constituents.The BGTR30, in which companies with a free float of at least 10% have equal weight, edged down 0.02% to 503.98 points.

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