News within the industry of pulp and paper, Dec, 12 2018
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Luxembourg company to invest in Bulgarian paper mill

Photo: Belovo
Photo: Belovo
Published by
Jaroslaw Adamowski - 24 Jul 2018

Luxembourgs Pabolux has submitted a buyout offer to purchase an additional stake in Bulgarias Belovo paper mill and delist the company from the Bulgarian Stock Exchange (BSE).

 

Pabolux directly owns a 59.21% stake in Belovo, and controls a further 33.18% of the shares through an agreement for joint supervision with Luxembourgish company Padilux, according to the information obtained by business news site SEENews.com. Pabolux now intends to purchase a further 7.61% stake.

 

Pabolux is reportedly considering to increase Belovos capital with the aim to finance new investments or pay the companys outstanding debt.