Date Target Vendor Investor Size Comment
July 26 Wert In Bulgarien residential park Sofia Municipality WERTERINVESTITION.DE EUR 10 m Price estimated to EUR 600 per sq. m
July 25 Extension of Bulgaria's first dense wavelength division multiplexing optical network CableTEL China's ZTE Corporation N/A CableTEL is the largest cable television operator in Bulgaria, with a hybrid optical-coaxial network covering more than 600,000 Bulgarian households and approximately 11.5% of the cable subscriber market.
July 22 Acquisition of 2/3 of assets in veterinary production facilities in Razgrad Iceland-based generic drug company Actavis Bulgarian veterinary drugs producer Biovet N/A The scope of the deal also includes the Actavis subsidiary for veterinary pharmaceuticals packaging based in Macedonia.
July 22 Wooden building materials production facility Smolyan Municipality Bertrand Eurohomes, Netherlands N/A The company will crate 30 jobs.
July 22 35 km extension to the gas distribution network in Pleven, Northern Bulgaria Pleven Municipality AMGA Azienda Multiservizi S.p.A (Italy) N/A AMGA has invested EUR 1.6 mln in Pleven's gasification to date through its Varna-based subsidiary Black Sea Technology Company (BSTC).
July 22 Privatisation of Sofia-based road maintenance outfit Patno Poddurzhane State Copper smelter Elatsite Med (Bulgaria) EUR 1.5 m Patno Poddurzhane-Sofia manages 29 real estate properties and a fleet of road maintenance and sanding vehicles and equipment.
July 22 Prospect for energy resources in the Yambol block Sliven, Haskovo, Yambol and Bourgas regions Russia's OAO Bashkirgeologia EUR 7 m Government issued a permit for the project area of an area of 4,005 sq m.
July 21 A logistic center near Sofia Bulgarian Posts, the national postal operator Bulgarian Posts, the national postal operator EUR 15 m Project contractor is Siemens,with local subcontractor Glavbolgarstroy.Bulgarian Posts will raise the necessary funding through mortgage contracts with HVB Bank Biochim and HVB Leasing, and will pay for the equipment in instalments.
July 18 Purchase of 49.571% stake in Bulgaria's Hilton Sofia hotel SPV Sofia Hotel Development Corp. Irish holding Quinn Group N/A (valued 40 m-60 m EUR) The 246-bed Sofia Hilton in Bulgaria was built for $43 mln in 2001. It produced a 58% occupancy rate last year. In 2003 the hotel had revenues of 7.6 mln euro and profits of 2 mln euro.
Deals, contracts, tenders and outsourcing for a total value of more than BGN 2 mln. and projects of strategic interest to Bulgaria
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas
GOVERNMENT AND EU | REAL ESTATE AND FINANCE | EU TOPICS
Date Subject Institution Comment
July 26 Big German company interested to buy Bulgarian defense holding TEREM in Turgovishte Media Euro 50 mln investment expected, Euro 100 mln in the next 5 years. The state is seeking one buyer to acquire 75% stakes in TEREM units, estimated to Euro 11 mln.
July 26 Silk maker Sviloza (Svishtov) logs H1 profit of Euro 1.2 mln Sviloza, Bulgaria In early '05, the management of the company announced plans for a large-scale restructuring that will involve spinning off and outsourcing non-core operations.
July 26 Bulgaria Parliament delays vote on government Media Opposition deputies left the parliament on Tuesday leaving the Socialists and their junior partner Movement for Rights and Freedoms (MRF) unable to vote on the government proposed by the Socialist leader Sergey Stanishev.
July 26 Bulgaria seeks Euro 2.41 mln in sale of five wireless broadband licences Bulgaria telecoms regulator (CRC) Two of the licences will be Class A and will have capacity of 21MHz. They will be auctioned on October 11 when bidding will start at Euro 500,200 per permit.
July 26 Orchid fund to kick off luxe residential development in Sofia. Orchid The total area of the apartments is 15,000 sq m and is worth between 11 and 15 mln Euro.Orchid raised 30 mln euro for its real estate business in Bulgaria through a public offering on LSE's AIM. It has also received a loan from EBRD.
July 26 Lifton Bulgaria to manufacture hydraulic kits for Caterpillar (USA. Lifton Bulgaria (currently owned by Atlas Copco, Sweden) Lifton Bulgaria's 2004 sales rose 20% year-on-year and before-tax profit totalled 1 mln levs, largely thanks to its successful entry on Australian, Chinese and U.S. markets.
July 22 3 banks investigating to acquire the Bulgarian commercial bank Unionbank Media General Electric's GE Consumer Finance unit, Austria's Oesterreichische Volksbanken (OeVAG) and Hungary's Magyar Kulkereskedelmi Bank (MKB)
July 22 Oil and Gas Exploration Company is granted a permit to prospect for oil and natural gas in the Shabla block of the Bulgarian Black Sea shelf Government The area of the 3-year concession is 2,776 sq m. The project will cost EUR 3.6 mln.
July 22 Bulgarian Bulstartinvestment and California-registered North American-Bulgarian Chamber of Commerce vie for Rakitovo tourist development contract Media Project estimated to EUR 315 mln
July 21 Bulgarian housing prices in the second quarter rose 4.3% compared to the first three months of 2005 National Statistics Institute (NSI) The residential market in the coastal city of Bourgas is slowly catching up with its counterparts in Sofia and Varna.
News and events important for investors related to the Bulgarian legislation, government and EU policy, financial and real estate sectors.
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas

Top glass manufacturer Sisecam opens its first production unit in Bulgaria

•Total investment: EUR 180 mln
•Project structure: EUR 132 mln investment glass plant (glassware production unit and a flat glass unit);
•EUR 50 mln mirror production plant
•Site: 80 ha in northeastern Bulgarian town of Targovishte
•Production: 200,000 t of flat glass a year
•Jobs: 1065
•Markets: 70 % exported to CEE and USA; Sisecam has a 3 % share on the world flat glass market and a 9 % market share in Europe
•Estimated sales profit: USD 147 mln
•Funding: International Financial Corporation (IFC), The World Bank's financing arm

The Turkish company is the first big international investor to take advantage of a tax incentive programme launched by Bulgaria in early 2003. Bulgaria strives to lure investors with the promise of 0% taxation on reinvested profit for five years and state commitment to build the necessary infrastructure for companies, which set up facilities in economically-depressed regions and hire local workers. Sisecam employment will impact favorably on the unemployment rate in Targovishte region, which is one the highest in Bulgaria.
Showcase of important issues, deals, and events.
With the contribution of Rivas
July 27, 2005