European Hotel Enterprises and International Lodging of Bulgaria plan to make a tender offer of 102.04 leva (52.17 euros) per share to the other shareholders of Sofia Hotel Balkan (

).

A total of 73,002 shares, accounting for 15.25% of the capital of Sofia Hotel Balkan, were transferred in two deals on the Bulgarian Stock Exchange (BSE) on April 10. The value of the transactions stood at 6.066 mln leva (3.1 mln euros).

European Hotel Enterprises and International Lodging of Bulgaria acquired the stock, which was sold by EFG Eurobank Ergasias and George Drandakis.

Thus, the connected persons own a total of 66.9% of the capital of Sofia Hotel Balkan after the transactions.

The tender offer will be made to the remaining shareholders, who own 158,391 shares accounting for 33.1% of the capital.

Sofia Hotel Balkan booked 2.614 mln leva loss in 2007, compared to 2.719 mln leva loss posted a year earlier. The sales revenue of the company amounted to 16.806 mln leva, up from the 15.659 mln leva generated in 2006.