Last September, American buyout firm Advent International purchased a 79% stake in Devin AD from Austria’s Soravia Group, with plans to acquire the remaining shares in a takeover bid. Now Advent is poised to delist the Bulgarian water bottler from the Bulgaria Stock Exchange after it completes the acquisition of 95% of company shares. The Bulgarian government has [...]
Tag Archives: Devin
Soravia Sells Devin to Advent International
After several months of searching, Austrian investor Soravia Group has reached a deal to sell it’s stake in Devin AD to private equity firm Advent International, who will purchase a 75% stake in the Bulgarian beverage company through a share purchase. A takeover bid will follow to acquire all the remaining shares except the 6.75% Devin management will [...]
Soravia Enters Talks With Advent to Sell Devin
After confirming in May that Bulgarian bottled water producer Devin was on the sale block, the Soravia Group has now entered exclusive talks with Global private equity firm Advent International. The talks, which began on July 13th, are aimed at creating a deal to give Advent an 82% stake in Devin including Soravia’s 75.3%. At least [...]
