ENIKORP AD submitted a proposal to acquire 9.5% stake in Yambolen AD from it's minority shareholders Chimimport Fertilizers Ltd., Lamara EOOD and others for BGN 0.3 million last week. Under the terms of proposal, ENIKORP will acquire up to 116,144 ordinary shares in Yambolen from its other shareholders at a price of BGN 2 ($1.10/1.02 euro) apiece, over 200% above the last stock value of 0.65 levs and slightly higher than the estimated fair value of BGN 1.996 per share. As of January 4, 2024, ENIKORP offered a price of 2.27 levs ($1.27/1.16 euro) per share to acquire up to 116,144 ordinary, freely transferable units in the business. The proposed full buyout offer by local majority shareholder Enicorp would not result in significant changes in the target company's operations or headcount. Minority shareholders have 28 days to accept or reject the offer. As a part of offer, the buyer does not intend to restructure the company or modify its activities. Earlier this year, Yambolen, which was a former synthetic fibre manufacturer, restructured into a renewable electricity producer after commissioning a solar photovoltaic installation. Under ENIKORP'S ownership, Yambolen will continue its primary business of solar park operator as well as its activities of leasing its building stock and of wastewater purification, both of which are expected to generate under 5% of annual revenue.

ENIKORP AD completed the acquisition of 3.6% stake in Yambolen AD from it's minority shareholders Chimimport Fertilizers Ltd., Lamara EOOD and others on February 2, 2024.