Pharmaceutical trader Rompharm Company, which last year emerged as the biggest private owner of farming land in Bulgaria, has strengthened its leadership position with the purchase of Ceres Fund. Information about the transfer of all the 66.7 million shares in the fund has been published on the Central Depository’s website.
By acquiring Ceres, Rompharm Company receives 18,600 ha of agricultural land, increasing its arable land to nearly 90,000 ha. The only larger land owners in Bulgaria are the state and the municipalities, which hold a total of 3.7 million ha.
The price of the deal was not announced but market sources say that it is above 100 million leva (about 50 million euro). The transaction got anti-trust clearance in July.
Last summer Rompharm Company acquired 18,000 ha of land from Elarg Fund (which was liquidated) for 90 million leva. Meanwhile the company keeps on expanding its portfolio by buying land through its subsidiaries Staven, S.I.G. and Rosagrofund.Read more in Bulgarian here.