Biovet will generate thermal energy from waste and biomass Pharmaceutical company Biovet will construct a new plant in its factory in Peshtera, where remnants of its own production will be burnt. In the end of last year Biovet was granted a decision under EIA for the new facility for generation of energy from waste and biomass in the plant for pharmaceuticals for veterinary Medicine in the town of Peshtera. It will be located on the site of the CHP, which operates in gas and does not work at present because it is unprofitable. Waste which will be burnt will be mainly from the production of Biovet. 2-3 tons of hazardous waste per hour and 5-6 tons of wood chips will be processed in the installation. The thermal power plant has a capacity of 15 MW, and the energy produced there will be used for the needs of the enterprise. The construction of the facility has not yet begun. The facility of biomass, which Biovet is building in Razgrad is at a more advanced stage and is likely to be commissioned in the summer of this year. It will be operated by a company named Greenburn, which is applying for obtaining IPPC permit.
Source: Capital (28.01.2016)

Zlaten Lev Holding sold nearly 2% of Neochim On April 14, 2016 Zlaten Lev Holding sold 45,739 shares, representing 1.95% of the capital of Neochim. The deal was done at a price of BGN 45.50 per share, or a total of BGN 2.081 million. In 2014 the holding distributed BGN 0.64 gross dividend per share from the sale of assets. 2.08% of the capital of Biovet were sold then for BGN 1.74 million, as well as 595,560 shares representing 94.63% of the capital of Carat Electronics AD to company AQ Group in August at a price of BGN 5.1888 per share. In 2015, the holding company announced a loss of BGN 357 thousand to a positive financial result of BGN 4.091 million a year earlier.
Source: profit.bg (19.04.2016)

Bulgaria’s Biovet Q1 cons net profit rises sharply Bulgarian veterinary drug maker Biovet's consolidated net profit soared to BGN 2.3 million in the first quarter from BGN 249,000 in the same period last year. Sales revenues increased 17.6% to BGN 52.6 million in January-March. Operating profit surged to BGN 2.6 million from BGN 676,000, as 'other' costs plunged to BGN 180,000 from BGN 2.8 million in the first quarter of 2015. Biovet is 82.36% owned by Bulgarian-based pharmaceutical company Huvepharma. It has production plants in the towns of Peshtera, Botevgrad, and Razgrad. Some 90% of Biovet’s veterinary products are exported.
Source: investor.bg (18.05.2016)

Huvepharma EOOD now holds 86.32% of Biovet AD Huvepharma EOOD acquired 3.967% of Biovet AD with date of transfer of ownership (settlement, which takes 2 days) July 12, 2016. The share of Huvepharma increased from 82.3554% to 86.3224%. The deal was announced because it passes share multiple of 5%, in the case - 85%. The date of two business days before July 12, 2016 falls on July 8, 2016 and a deal for the percentage of the capital is on the floor of BSE-Sofia. The transaction is for 269,102 shares at a price of BGN 11.9. According to Act for Public Offering of Securities, Huvepharma EOOD had no obligation to publish tender offer in case of acquisition of over 3% of the capital of Biovet AD, because this obligation is only to shareholders with share between one third and two thirds and Huvepharma has more than 80%.
Source: 24 chasa (20.07.2016)

Kiril Domuschiev plans to remove Biovet by the exchange The main shareholder of Biovet - Huvepharma (86.32%) and smaller Opportunity 2009 (3.68%), made a tender offer to acquire the remaining shares in the manufacturer of products for veterinary medicine. The two companies control 90.01%, while their bid comes after they signed a memorandum of co-management on July 18. Offered price per share is BGN 13.30, which was well above market yesterday - the stock exchange in Sofia on Tuesday saw the shares traded for just over BGN 12 and ended the session with a growth of 8.27% to BGN 13.1. The tender has already been applied to the Financial Supervision Commission and waits for its approval. The documents sent to the stock exchange show that there is a plan for the company to be delisted from the exchange. The object of the proposal is 677,998 shares, which will take more than BGN 9 million and will be provided by Huvepharma.
Source: Capital (27.07.2016)

Bulgaria's Biovet shares trade higher after buyout suspension Âulgàriàn våtårinàró drug màêår Âiîvåt's shàrås tràdåd highår în thå Sîfià stîñê åõñhàngå în Ìîndàó mîrning, àftår în Fridàó thå ñîuntró finànñiàl rågulàtîr dåñidåd tî tåmðîràriló hàlt à buóîut îffår fîr à stàêå in thå ñîmðànó bó its màjîritó shàråhîldår Íuvåðhàrmà ànd minîritó shàråhîldår Îððîrtunitó 2009. In Juló, thå twî shàråhîldårs ðrîðîsåd tî àñquirå thå råmàining 9.99% stàêå in Âiîvåt thàt thåó dî nît àlråàdó îwn, îffåring BGN 13.30 ðår shàrå fîr à tîtàl îf 677,998 ñîmðànó shàrås. Òhå twî ñîmðàniås signåd în Juló 18 àn àgrååmånt în jîint mànàgåmånt îf Âiîvåt. 90% îf Âiîvåt’s ðrîduñts àrå åõðîrtåd.
Source: Capital (22.08.2016)

Huvepharma improved the offer to Biovet’s minority shareholders Biovet’s main shareholders announced a new tender offer for the shares of minority shareholders. For the remaining 9.99% of the capital of the veterinary medicine manufacturer Huvepharma and the related Opportunity 2009 offered BGN 14.4 per share on Wednesday, raising the previous offer by BGN 1.1. The initial proposal was temporarily blocked by the Financial Supervision Commission at the end of August. Shareholders will have a month to accept the proposed price after the publication of the proposal in two daily newspapers. The remaining stake in the company will cost Huvepharma BGN 9.67 million under the current parameters of the transaction. Funding will be provided through the company’s own resources. It is planned after the tender for the company to be delisted from the Stock Exchange and the public register.
Source: Capital (09.09.2016)

Bulgaria's Huvepharma, Opportunity 2009 increase buyout bid for Biovet further Bulgarian veterinary drug maker Biovet said its majority owner Huvepharma and minority shareholder Opportunity 2009 had raised their joint buyout bid for the remaining 677,998 shares which they do not already own to BGN 15.03 per share from BGN 14.4 offered previously. The shares are equivalent to 10% interest in Biovet. The offer will be open until November 8. This is the second increase of the buyout price. The two companies sweetened their bid from BGN 13.3 to BGN 14.4 per share last month. Huvepharma owns 86.32% of Biovet's shares, whereas Opportunity 2009 has a 3.68% stake. The two companies signed an agreement on the joint management of Biovet on July 18. Biovet has production plants in the towns of Peshtera, Botevgrad, and Razgrad. The company exports about 90% of its output. Huvepharma focuses on the production and distribution of animal pharmaceutical products and animal feeds, as well as active pharmaceutical ingredients for use in animal and human pharmaceuticals.
Source: Capital (13.10.2016)

Bulgaria’s Huvepharma, Opportunity 2009 withdraw buyout bid for 10% of Biovet Bulgarian veterinary drug maker Biovet said on Monday its majority owner Huvepharma and minority shareholder Opportunity 2009 had withdrawn their latest buyout bid for the remaining 9.99% stake in the company they do not already own. Biovet was notified about the withdrawal of the buyout bid on October 28, the company said in a bourse filing. It did not give further details. The bid for the remaining 677,998 shares in Biovet was priced at 15.03 levs per share ($8.5/7.7 euro). The bidders had increased their buyout offer twice, after Bulgaria's financial regulator rejected the first two offers, priced at 13.3 levs and 14.4 levs per share, respectively. Biovet has production plants in the towns of Peshtera, Botevgrad, and Razgrad. Some 90% of its output is exported. Huvepharma focuses on the production and distribution of animal pharmaceutical products and animal feeds, as well as active pharmaceutical ingredients for use in animal and human pharmaceuticals. Biovet shares closed at 15.0 levs per share on the Bulgarian Stock Exchange on Monday, down 2.31%
Source: Capital (01.11.2016)

BGN 8 million takes Biovet -Peshtera for "Green Energy" The microbial preparations company Biovet Peshtera will receive the amount of BGN 8 million as aid under the Ordinance to reduce the burden on businesses of the costs for energy from renewable sources. The amount is due to covering from the public service - National Electric Company. With the first changes to the Energy Act since March 2015 the guidelines of the European Union were adopted and the Ordinance to reduce the burden on business of the costs for renewable energy was developed. It is expected the total amount that enterprises are going to receive is BGN 97 million for the regulatory period from August 1, 2015 to June 30, 2016. By granting aid the Bulgarian government aims to guarantee a prosperous environment for business development. By reducing energy costs, companies in the country will improve the competitiveness on local and foreign markets.
Source: Monitor (11.11.2016)