Банкеръ Weekly

Briefs

LEISURE INDUSTRY COMPANY BOUGHT AT SIX-FOLD ITS INITIAL PRICE

The Sofia-based firm Zanzi Holdings BG has won an open bidding tender for 99% of the capital of the leisure industry company Art Stroy Tours. Zanzi Holdings BG will pay BGN10.7MN for it, almost six-fold the initial bidding price of BGN1.7MN, set by the Privatisation Agency (PA). Twelve companies took part in the bidding. It's curious that most of them are not operating in the lesiure industry branch. In addition to the winner Zanzi Holdings BG, the other contestants were: Royal Holiday, Adonnis Com, Alfa Tex L, Sole Trader Dento-Tatyana Tasseva-Individual Practice for Primary Stomatological Ais; Bulgarian-American Property Management, Design BG, Bulgarian and Industrial Trade Organisation, BTD-Global Tours, Zlatel Lev Holding, Investex, and a consortium between Golden Sands and BenchMark Group. Royal Holiday competed to the last, but withdrew from the bidding when the price reached BGN10.7MN. The buyer Zanzi Holdings BG has specialized in teh purchase and sale of share participation in the capital of other comp[anies as well. It is owned ny Zanzi Holdings, which on its part is in the hands of a Cypriot eponymous offshore company. It is known that the firm is connecetd with Vassile Bozhkov (Zanzi Holdings BG is managed by Oleg Stanimirov Gourbalov, who is Mr. Bozhkov's partner in the Sofia-based IMO Bulgaria OOD).The most attractive real estates of the leisure industry firm Art Stroy Tours are the hotels Hadjidadonov's House in the mountain resort of Bankso and Rai in Varna. The company is also the owner of the Chaika hotel at the Golden Sands seaside resort (near Varna) and bungalows in Chernomorets. The privatized company's assets include the Romatica resort in Haskovo, teh Central hotel in Razgrad, and an administrative building in Sodia. The latest financial data about the company are for the first nine months of 2002 when it reported a loss of BGN155,000 and a turnoevr of BGN363,000.

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