Bulgaria’s Financial Supervision Commission (FSC) issued a temporary ban on the publication of a tender offer to the minority shareholders in Lukoil Neftochim. The motives for the decision will be announced additionally, the FSC said. The tender offer was made by the majority owner, Lukoil Europe Holdings B.V. of the Netherlands, through Raiffeisenbank (Bulgaria). The company offered to buy 3,913,712 shares, or 28.89% of the capital of the Bourgas-based refinery, at BGN 27.83. Lukoil's Dutch structure acquired 58.4% of the refinery from Lukoil Petrol AD on October 8, 2004. The transaction amounted to BGN 153 million. Currently the company owns, directly and indirectly, 71.11% of Lukoil Neftochim. Most analysts believe the minority shareholders would accept the tender offer, since the price is good. Besides, it is made for the purpose of delisting the company, which will reduce the liquidity of the stock afterwards.