Банкеръ Weekly

Briefs

COMPANIES

Terem and not the Privatisation Agency (PA) will be selling some of its armour repairing plants. Defence Minister Nikolay Svinarov has already signed the order for their divestment. On August 25 Ecobulpack was granted a licence for collective organization of utilization of scraps. The company was set up on June 2 by 34 big Bulgarian firms from various branches. According to plans, it will recycle more than 12,500 tons of waste by the year-end. Navigation Maritime Bulgare (Navibulgar) will pay USD450,000 to the Spanish company Maritime and Naval by force of an agreement reached out of court. The Spanish were claiming USD6MN of missed benefits after Navibulgar suspended negotiations for the sale of an unfinished vessel. The German company Kaufland intends to buy a municipal plot of 15-25 dca in Dobrich and build a hypermarket on it. The Germans have recently announced their intentions to invest EUR300MN in the construction of 40 hypermarkets in all bigger Bulgarian towns. The Kazanluk-based Runo company will issue 7-year corporate bonds worth EUR10MN. The issue will be backed by company assets. The PA opened on August 23 a procedure for a limited competition for choosing a valuer of Sunny Beach AD. The winner should prepare a privatisation evaluation of 75% of the company's capital, make an analysis of its legal state, and draft an info memorandum. Offers for participation in the competition will be accepted at the PA.The Italian company Manifactura Riese has launched construction of a knitwear factory in Pleven, projected to begin operations by the year-end. The Italians intend for invest BGN10MN in the enterprise over the next six years. Manifactura Riese is the owner of the Bulgarian firm Nevi Fashion.

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