Date Target Vendor Investor Size Comment
November 29 Construction of a hotel complex Kavarna Municipality Spanish company Magle EUR 10 m Developers have been flocking to Bulgaria's Northern Black Sea coast, attracted by the unspoiled nature and the competitive property prices.
November 29 Investments in local enterprises and/or joint ventures in Bulgaria and Romania Balkan Accession Fund (BAF) The International Finance Corporation (IFC) EUR 10 m BAF's fund size targets EUR 75 m of which 20 m have been committed.The fund was co-founded by the Romanian-American Enterprise Fund, the Bulgarian-American Enterprise Fund and Deutsche Investitions und Entwicklungsgesellschaft mbH and the FMO.
November 28 Design-and-build factory construction The Bulgarian arm of Belgian Cordeel Puratos Bulgaria EUR 1.4 m The 2,000 square metres facility in the industrial city of Pernik will produce emulsifiers, fats, sourdoughs, yeasts, mixes and confectionery ingredients
November 25 Raising the output capacity of two breweries Kamenitza brewery in Plovdiv and brewery in Haskovo Brewer giant InBev EUR 1 m InBev, born out of the merger of Belgian Interbrew and Brazilian AmBev, makes in Bulgaria the global brands of Stella Artois, Beck's and Staropramen, and the Bulgarian brands Kamenitza, Astika, Burgasko Pivo, Pleven and Slavena.
November 23 Syndicated loan Bulgarian First Investment Bank (FIBank) N/A (a group of banks) EUR 125 m Earlier this year, FIBank launched a EUR 200 m three-year Eurobond issue through First Investment Finance B.V. ABN Amro and Dresdner Kleinwort Wasserstein (DrKW) were the lead managers of the issue.
November 23 Mortgage loan Agro Invest Bulgaria Raiffeisenbank Bulgaria EUR 6.1 m Agro Invest Bulgaria will sow cereals for Mel Invest Holding, a Bulgarian farming and food producing holding, which would use the crops in its bakeries and fodder plants.
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
November 28 Icelandic tycoon Thor Bjorgolfsson to buy majority owner of Bulgarian Telco Media Bjorgolfsson is seeking EUR 500 m to finance the purchase of Viva Ventures, a special investment vehicle (SPV)set up by the U.S. equity fund Advent which owns a 65% Bulgaria's dominant fixed-line telecoms operator BTC
November 25 Bulgaria's state power utility NETC calls EUR 20 m tender for power lines NETC The projects are part of a EUR 153 m programme called Energy 2, financed mainly by the EBRD and the European Investment Bank.
November 25 Bulgarian parliament adopts new insurance code The Bulgarian Parliament Parliament set the minimum required capital for life insurers at 4 mln levs and that for general insurers at 6 mln levs.
November 24 Bulgaria plans EUR 200 mln railway modernisation project Transport Ministry The Council for Economic Policy will decide how the project will be funded. If it approves debt financing the Transport Ministry plans to start negotiations with Japanese banks and with the European Investment Bank.
November 24 Bulgaria hopes to launch flag carrier privatisation in Q1 '06 Transport Ministry The privatisation strategy will include requirements for investments and aircraft ownership in order to prevent the possible incorporation of the company under the brand of a foreign airline.
November 24 Bulgaria lands in Top 20 of global outsourcing destinations A.T. Kearney's Global Location Index Bulgaria ranks 15th among 40 destinations for 'offshoring' of service activities such as IT, business processes and call centers.
November 23 Israeli Elbit Systems wins helicopter upgrade case in Bulgaria Supreme Administrative Court (SAC) Elbit formed a consortium with U.S. Lockheed Martin; the projected deal is estimated at EUR 127 m
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

Magyar Telekom (Hungary) Buys Bulgarian Orbitel

- Deal: Hungarian telecom Magyar Telekom (Matav) buys 100% of Bulgarian telecom and ISP Orbitel (operating since 1997)
- Deal conclusion: beginning of 2006
- Size: EUR 8 m
- Investment plans: EUR 7 m in further upgrade of technology and networks to enable them to come up with new products; to improve the customer satisfaction in the Bulgarian telecom market, with new products, new technology, better service
Orbitel's turnover 2004: EUR 9.3 m (YoY growth of 28%)
Orbitel's turnover 2005: EUR 11.7 m
- Telecom services/ data providing: 53%/47%

Magyar Telekom is 60%-owned by Germany's Deutsche Telekom
Showcase of important issues, deals, and events.
With the contribution of Rivas
November 30, 2005