Biggest investment in Bulgaria signed

Article Abstract:

Belgian Union Miniere has purchased a 56% share stake in Bulgaria's copper smelter MDK for $80 million. Union Miniere plans to invest $200 million in cleaning up pollution and new refinery buildings before 2002. The Bulgarian government aims to privatise five banks by the middle of 1998 and will complete the sale of 98% of Express Bank by the end of 1997. A joint venture between Speedwings of the UK and Treuhan of Germany has purchased 25% of national carrier, Balkan Air. Future sell offs will include chemical manuafacturers Verila, Antibiotic and Agrobiochim during 1998.

Primary copper, Copper, Primary Smelting and Refining of Copper, Acquisitions and mergers, Copper industry, Copper products, Union Miniere, MDK

---

Changed climate for sales in Bulgaria

Article Abstract:

Bulgaria's proposed sale of 22 companies by its Privatisation Agency has aroused the interest of over 80 banks, consultants and financial advisers who have registered to participate in the process. Some five companies will be in the first round of sell-offs, including bio-products maker Agrobiochim, pharmaceutical company Antibiotic and copper refinery Verila. The International Monetary Fund and the World Bank want 40% of the state enterprises to be sold by end-1997. Foreign involvement in the process is a condition of the funding agreement.

Planning

---

Bulgaria seeks to complete bank sale

Article Abstract:

Bulgaria's government is to sell off 78.23% of its share in Post Bank, completing the sale in March 1998. The bidding process was held up by US-based AIG, which wanted to undertake a study of the bank. Both Expressbank and Hebrosbank are also to be privatized during the first half of 1998. The Bulgarian Privatization Agency is expecting 143 projects to take place in 1998, and plans to revise its procedures after it has been critisiced for being too slow.

Mergers & Acquisitions, Post Bank, Hebrosbank, Expressbank

Similar abstracts:

• Abstracts: Promotion battle: investment banking. NatWest holed: investment banking. The last of the Mohicans: British investment banks
• Abstracts: Power stations without long-term offtake contracts. Abu Dhabi seeks project consultant. Malaysia power restructuring attracts three
• Abstracts: Victorian gas on the back-burner. Brazilian banks to lead sell-off programme

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.