BRUSSELS (Thomson Financial) - Holding company Solvac SA has raised its direct and indirect stakes in Belgian chemical and pharmaceutical company Solvay SA to 33.04 pct, Euronext said.

Solvac increased its stake by 9 pct through buying coupons, the declaration said.

Solvay Stock Option Management sprl now owns 3.04 of share capital through shares bought on Euronext.

The company buys shares in order to honour the company's commitments to managers under the stock option plan.

In total, these linked companies now own 33.04 pct of Solvay's capital, the declaration said, citing the company as the source.

Earlier this month, Solvac said it had made a 180.2 mln eur capital increase to finance the acquisition of Solvay shares with the aim of lifting its shareholding in Solvay to just above 30 pct. frances.robinson@thomson.com fr/lht

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