Bulgaria's Advance Terrafund REIT said on March 1 that the International Finance Corporation (IFC) sold its 17.7% stake in the company for an undisclosed price on February 23.
Meanwhile, Bulgarian financial services company Karoll Finance increased its stake in the Advance Terrafund to 32.98%, the company said in a statement filed on the website of the Bulgarian Stock Exchange.
At the end of 2020, Karoll Finance owned a 17.65% stake in Advance Terrafund.
Advance Terrafund says it is the largest real estate investment trust by market capitalisation in Bulgaria. It is included in all indices of the Bulgarian Stock Exchange.
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