MOSCOW, December 10, (RIA Novosti) - LUKoil intends to bring to 100% its stake in an oil refinery in Burgas, says the company's press-release obtained on Friday by RIA Novosti.
LUKoil Europe Holdings BV (a 100% subsidiary of OAO LUKoil) has announced a public tender to buy out a 28.89% stake held by minority shareholders in the Bulgarian oil refinery LUKoil Neftochim Burgas, says the release.
The tender offer has been endorsed by Bulgaria's financial supervision commission.
The bidding price is set at 27.83 leva (approximately 14.22 euros) per share.
The bid stands for 28 days from the moment the tender is announced.
In October 1999, LUKoil purchased 58% of the enterprise's stock for $101 million, the press release notes.
