Expats

Bulgaria Defeated in Court by Viva Ventures over Telco Deal [May 16, 2012] Bulgaria has lost a lawsuit against Viva Ventures, a subsidiary of London-based equity fund Advent International, which acquired a 65% stake in the state Bulgarian Telecommunications Company (BTC), in a widely criticized deal in 2004. The International Arbitration Court in Paris ruled that Viva Ventures has abided by its commitments to the telco workforce, as envisaged in the contract for its ... [via YahooNews] More >>

Go-Ahead for Bulgaria's Stock Exchange Sale, Majors Wooed - Report [Mar 14, 2012] Bulgaria targets major global and European bourse operators for the sale of its only stock exchange, which it hopes to wrap up in the first half of this year, according to insiders, cited by local media. Bulgaria's government has packed together its stake at the stock exchange and the depository in a bid to sweeten the deal for the bourse privatization. The bundling ensures that the new owner ... [via YahooNews] More >>

Bulgaria Hurriedly Seals Bulgartabac Sale to Russia's VTB [Sep 13, 2011] Bulgaria's privatization agency sealed the deal to sell cigarette maker Bulgartabac to a unit of Russia's VTB Bank on Tuesday, before the competition watchdog delivers its ruling. The document for the purchase of a 79.8% stake in the Balkan country's dominant tobacco company was signed on behalf of the Russian bank by Alexandra Doychinova. ... [via YahooNews] More >>

Bulgaria's Corporate Bank Head Denies Links to Bulgartabac Bidders [Jul 06, 2011] The head of Bulgaria's Corporate Commercial Bank, which is believed to finance the media group of mogul Irena Krasteva, has denied he is interested in the privatization of the country's state tobacco giant Bulgartabac Holding. "I don't want to buy the state-owned stake in Bulgartabac, I have not even bought documents for the tender," Tsvetan Vassilev, majority owner and chair of the Supervisory ... [via YahooNews] More >>

Bulgaria Fin Ministry Acquires C-Bank Stake in Depository [May 12, 2011] Bulgaria's government has moved a step closer to packing together its stakes at the stock exchange and the depository in a bid to sweeten the deal for the bourse privatization. The central bank announced on Thursday it has decided to transfer its 20% stake in the central depository to the finance ministry. The two thousand shares will be purchased at their nominal value of BGN 100 apiece. ... [via YahooNews] More >>

Bulgaria's Tobacco Giant in Third Sale Attempt [May 10, 2011] A notice for the privatization of Bulgaria's former state tobacco monopoly Bulgartabac Holding is due to be published in the State Gazette on 10 May. The promulgation will mark the start of the third official attempt to sell the state-owned stake in the company, which is expected to be successful thanks to the political consensus the deal now enjoys, the agency for privatization and post ... [via YahooNews] More >>

Bulgaria to Take to Court Telco Buyer Viva Ventures Again [Mar 29, 2011] Bulgaria is considering once again legal actions against Viva Ventures, a subsidiary of London-based equity fund Advent International, which acquired a 65% stake in the state Bulgarian Telecommunications Company (BTC), in a widely criticized deal in 2004. Viva Ventures paid EUR 230 M for the purchase and another EUR 50 M for a license to establish a third mobile phone operator in Bulgaria. It ... [via YahooNews] More >>

Bulgaria's Minority Stake in E.ON Utility May Shrink - Minister [Mar 02, 2011] Bulgaria's stake in the subsidiary of German utility group E.ON may shrink if the state declines to participate in the company capital hike, the economy minister has said. Minister Traicho Traikov declined to cite any figures, but pointed out that E.... [via YahooNews] More >>

Serbia eyes stake in Bulgarian power [Feb 22, 2011] SOFIA, Bulgaria, Feb. 22 (UPI) -- Serbia wants to take a stake in Bulgaria's second nuclear power plant in Belene on the Danube River, the country's prime minister said. [via YahooNews] More >>

KBC Raises Its Stake in Bulgaria's CIBank To 100% [Dec 07, 2010] KBC Raises Its Stake in Bulgaria's CIBank To 100% [via YahooNews] More >>

Bulgaria Greece Sign Gas Line Agreement [Dec 01, 2010] Bulgaria and Greece have signed an agreement to build a joint gas pipeline connection, according to the Bulgarian Energy Holding (BEH) official site. The agreement provides for the establishment of a joint project company between BEH and the Greek IGI Poseidon with each having a 50% stake in it. [via YahooNews] More >>

Bulgaria Raises State Holding in Stock Exchange Before Majority Stake Sale [Sep 16, 2010] Bulgaria raised the state's stake in the Balkan country's stock exchange as it prepares to sell its majority to an industry investor and offer the rest to the public, said Ivan Takev, the bourse's executive director. [via YahooNews] More >>

Bulgaria Raises State Holding in Stock Exchange Before Majority Stake Sale [Sep 15, 2010] Bulgaria raised the state?s stake in the Balkan country?s stock exchange as it prepares to sell its majority to an industry investor and offer the rest to the public, said Ivan Takev, the bourse?s executive director. [via YahooNews] More >>

Bulgaria Said to Eye Foreign Partners for Stock Exchange [Sep 14, 2010] The increase of Bulgaria's government share in the country's only stock exchange is a step for its reprivatization, probably selling the stake to an international exchange group, insiders say. [via YahooNews] More >>

Bulgaria Wraps Up Tower Company Sale for EUR 57 M [Aug 20, 2010] The sale of 50% stake in Bulgaria's radio and television broadcasting unit NURTS to Cyprus-based international financial investor Mancelord Limited has been recorded in the country's trade register, bringing the deal to completion. [via YahooNews] More >>

Bulgaria Prosecutors to Probe Plovdiv Fair Ownership [Jun 17, 2010] Bulgarias prosecutors office will make yet another attempt to probe the mechanisms that distributed stake ownership in the Plovdiv International Fair as the state is trying to get back its control. [via YahooNews] More >>

Advent Water Controls 100% Stake in Bulgaria Top Water Bottler Devin [May 21, 2010] Bulgaria's leading water bottling company Devin has a new owner - global private equity fund Advent International. File photo Advent Water, the special purpose vehicle set up by US-based Advent International for the acquisition of leading Bulgarian mineral water bottler Devin, holds 100% stake in the company following a squeeze out proposal. [via YahooNews] More >>

Bulgaria's Devin CEO Named Business Personality of 2009 [Apr 22, 2010] Tsvetan Lazhanski is chief executive director of Devin and holds a 2.3% stake in the company. Photo by personal archive Tsvetan Lazhanski, executive director of Bulgaria's top water bottling company Devin, has been elected business personality of the year 2009 in a poll, organized by business weekly Capital and Nova TV channel. [via YahooNews] More >>

Bulgaria CCB Acquires 93.72% of Macedonian Stater Bank [Apr 07, 2010] Bulgaria 's eleventh-largest Central Cooperative Bank (CCB) acquired 317865 shares or a 93.72% stake in Macedonia's Stater Bank, the lender said in a note. [via YahooNews] More >>

Russia Eyes "At Least 50%" in Bulgaria Belene Nuclear Project (Novinite.com) [Mar 01, 2010] Russia will insist that it holds at least a 50% stake in the planned 2,000 megawatt Belene nuclear plant on the Danube River in Bulgaria in exchange for a EUR 1,9 B loan, according to reports. [via YahooNews] More >>