Bulgaria’s Monbat to buy 60% of Tunisian Company of Batteries NOUR for 10.3 M euro.
Monbat will finance the acquisition via a combination of own funds and the remaining proceeds of its 28.015 million euro bond issue, placed in 2018, it said in a stock exchange filing.
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Monbat said that it will first acquire and pay 23% interest in Tunisian Company of Batteries NOUR, while the remaining 37% will be acquired and paid by the end of 2021.
The acquisition is in line with the strategic objectives of Monbat for the establishment of its own production base and expansion of its market positions in North Africa and the Middle East, the Bulgarian company said at the time.
As at 14:00 CET on Thursday, shares in Monbat traded 3.51% lower at 5.50 levs on the Bulgarian Stock Exchange.
Bulgaria’s Monbat to buy 60% of Tunisian Company of Batteries NOUR for 10.3 mln euro, SOFIA, Bulgaria, May 13, 2021
