Банкеръ Weekly



Long expected sale of the Danielli line, an authonomous part of Kamet - the Pernik-based metallurgy plant, was postponed one more time, for at least a month at that. It was again provoked by the Irish Ferron Investment. Its representatives placed a new appeal to the Supreme Administrative Court. Now they request ceasing of the sale of this equipment which is Kamet's most expensive part.
In the end of 1999 the Irish company won the tender rendered for Danielli at that time. Then it offered BGL5.2MN. The deal was not finalised by signing a contract with the Ministry of Industry, headed at that time by Alexander Boshkov, as Ferron Investment did not pay the agreed price.
That led to opening a new procedure in the autumn of 2000. Three companies placed their offers. The best price of BGL40.7MN was offered by the Finnish Hansatiko. Second and third were the Plovdiv-based Neva Holding and the German Geodike, which offered BGL25.555MN and BGL`6.561MN respectively.
Signing of contract with Hansatiko, however, has not yet happened. Ferron Investment first placed an appeal against the procedure carried out by the Ministry of Economy for the sale of Danielli. On December 18, 2000, the Supreme Administrative Court declared the claim of the Irish company inadequate and did not procede with thҐ case. Now the participants in the sale procedure will have to wait also for the new, hopefully last, decision of the judges.
The Hansatiko deal is ready for signing, said in December Levon Hampartzumian, Vice Minister of Economy at that time, and the PA Executive Director at present. Signing of the contract is delayed because of the appeal placed with the Supreme Administrative Court. According to Kamet's Executive Director the question which judges have to make their decision on is whether BGL5.2MN or BGL40.7MN are more favourable for the seller, i.e. the state, in this case.

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