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Bulgaria: Alpha Bulgaria to buy additional shares in Prista Oil Holding

Investment firm Alpha Bulgaria will seek shareholder approval to buy up to 200,000 shares in local motor and industrial oil producer Prista Oil Holding worth 20 million levs (10.2 million euros).

The deal should be concluded by the end of 2025, Alpha Bulgaria said in a stock exchange filing last week.

At the end of 2023, Alpha Bulgaria fully subscribed to Prista Oil’s capital increase, purchasing all 97,791 shares offered for 9.8 million levs in total. The remaining 376,414 shares are held by local investment company Prista Invest 2016.

By raising its stake in Prista Oil, Alpha Bulgaria aims to solidify its presence in the lubricant products market, supporting the oil producer’s growth and expansion into new markets. Additionally, the firm plans to invest in modernising and optimising Prista Oil’s production facilities.

The move is expected to increase Alpha Bulgaria’s market capitalisation and will grant the investment firm an indirect stake in local battery maker Monbat, in which Prista Oil Holding owns 42.73%.

Prista Oil operates in over 45 countries in Central and Eastern Europe, the Middle East, Central Asia and North Africa, its website shows. The company has two production facilities in Bulgaria and one in Uzbekistan.

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