Date Target Vendor Investor Size Comment
December 20 Construction of a cable factory Yambol municipality Japan's Yazaki EUR 40-80 m The project requires a 50,000 sq m site and will create 3,000 jobs. Yambol is competing for the new Yazaki plant with locations in Pleven, Lovech, Sliven and Veliko Tarnovo.
December 19 Upgrade of Black Sea coast infrastructure BTC Bulgaria's dominant fixed-line telecom operator BTC EUR 50 m The resource will be invested in the renewal of telecom infrastructure along the Black Sea coastline and the installation of 300 km of fibre-optic and 300 km of copper cables. The project, which also envisages building multi-service access networks, is due for completion by end-2006.
December 19 Construction of an avionics repair center Sofia International Airport Lufthansa EUR 70 m The German airline company Lufthansa is in talks with Bulgarian peer Hemus Air for the construction of 2 hangars for the repair of Airbus 320, Airbus 321, Boeing 737 and Boeing 767.
December 16 Sale of 20% stake First Investment Bank (FIBank) The European Bank for Reconstruction and Development (EBRD) Hillside Apex Fund Limited, and Growth Management Limited N/A FIBank held 7.8% of the Bulgarian banking market by end-October. The bank's assets exceeded 2 bln levs with credits at 1.25 bln levs and net profit at 17 mln levs.
December 15 Bond issue to finance loans to individuals and private companies and for refinancing of long-term debt Bulgarian-American Credit Bank (BACB) N/A EUR 20m The bond market is a popular financing option with Bulgarian banks. Just a day ago, on Thursday, December 15, Investbank issued a EUR 2 m paper.
December 14 Construction of hotel and apartment building Burgas Municipality Ontime Distribution&Logistics EUR 50m The Bulgarian American Credit Bank owns 15% of the company, the majority owner is a Bulgarian entrepreneur.
December 14 Upgrade and expansion of gas network Bulgarian gas company Bulgargas Bulgargas EUR 32.2m The gas company ingested EUR 23 m of investment this year.
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
December 20 Bulgaria will need EUR 2.1 bn in financing to meet environmental protection pledges to the EU Dutch and Bulgarian governments The cost of waste depots, wastewater treatment plants and incinerators alone is seen at EUR 400 m for the 7-year period.
December 19 Bulgarian town Bourgas competes for Korean electronics plant Bourgas mayor Lyubomir Pantaleev Global Tech is scouting out locations for a manufacturing facility in CEE that will cut delivery time for EU-bound shipments.
December 19 Bulgaria's Q3 GDP Growth 4.6% Y/Y National Statistics Office The country's economy grew by 5.6% to BGN 30.047 bn in the January-September period, up from 5.3% a year earlier.
December 16 Sofia municipality in talks to buy Glabolgarstroy's 12% out of Hilton hotel Media Quinn Group, owned by Cavan-based billionaire Sean Quinn, acquired some 50% of the hotel this summer and was in talks to buy out other shareholders.
December 16 British Petroleum (BP) to use Varna as hub port Varna port One of the main advantages which the port of Varna offers is its ferry line to the port of Poti which BP will use to transport equipment for its projects in the Caspian region.
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

Nestlé buys Delta Ice Cream for € 240 m

- Investor: Nestlé Hellas S.A. (Greece)
- Vendor: Delta Holdings S.A. (Greece)
- Value: € 240 m
With sales of € 122 m in 2004 and four production facilities, Delta Ice Cream is the leading ice cream business in Greece as well as in Bulgaria, Macedonia, Romania, Serbia and Montenegro. The transaction will significantly expand Nestlé's position in the growing ice cream market in the Balkans.

Earlier this week Delta and Chipita declared to merge to create a company with annual sales of over EUR 1 bn. In Bulgaria, the Delta owns Delta Bulgaria and has invested over EUR 35 m to launch a distribution center in Sofia and a factory and distribution center in Varna. The company's share of the local market for pre-packaged ice cream is estimated at 30%. Snack food manufacturer Chipita International bought Bulgaria's second-largest snack food maker, Royal Foods Holding, in mid-2004.

Showcase of important issues, deals, and events.
With the contribution of Rivas
December 21, 2005