EFEKTEN&FINANZ WITH THE HIGHEST BID FOR ALEN MAK

Business | December 5, 2001, Wednesday // 00:00

Bulgarian –registered Efekten&Finanz Bulgaria has offered USD 5,5 M for a 57% stake in Bulgarian cosmetics maker Alen Mak, Dnevnik Daily wrote citing insiders. The company outbid the other three candidates that had submitted valid bids with the Privatization Agency. The initial price set by the Privatization Agency was USD 3,95 M. Bulgarian-registered PM Group offered USD 5,1 M for the stake and Sintofarm – Bulgaria, a local company believed to be linked with PM Group outbid PM with just USD 100.Sofia-registered Rubella Cosmetics offered USD 4,35 M. The state owns 75% of Alen Mak, 22,3% are controlled by Vienna-based investment fund EPIC and the remainder is held by private individuals.

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