Date Target Vendor Investor Size Comment
March 8 Capital raised by a float Bulgarian Information Technologies (Bitex), owned by Eurocapital Finance n.a. 14.5 m new shares Nominal and issue price is 1 BGN.The bulk of the proceeds will be invested in real estate properties, the company's new line of business; the residual proceeds will be invested in securities and the company's current IT operations.
March 6 New fairgrounds for international events Pleven Municipality Bulgarian business exhibitions organiser Partners Expo EUR 5 m UK, Austrian, Russian and Bulgarian investors have already shown interest to fund the project.
March 2 A new meat processing unit Poultry meat producer Polo Commerce Poultry meat producer Polo Commerce EUR 3 m The project has applied for financing from EU's SAPARD program. The new factory will have a production capacity of 20,000 tons per shift or 40,000 tons per two-shift workday.
March 2 Raised investment for real estate projects Bulgaria and Romania Bluehouse Accession Property (UK) EUR 147 m Bluehouse Accession has already acquired a diversified real estate portfolio in Bulgaria and Romania, valued at approximately EUR 55 m, through its asset manager Bluehouse Capital Advisors Limited.
March 1 Department store Sofia Municipality Greek toy manufacturer and retailer Jumbo n.a. Jumbo said that it plans to invest EUR 80 m in expanding its store chain over the next 2 years.
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
March 7 Deutsche Bank to open office in Sofia Media
March 6 EU to call tender for waste management in Bulgaria The European Union Bulgaria is also set to get financing for solid waste management from the EBRD, as the bank wants to provide more municipal lending for urban transport, waste management and district heating in 2006 and 2007.
March 6 Bulgaria maps out infrastructure priorities through 2013 Government Bulgaria will award concession contracts for all domestic airports, excluding the Sofia International Airport, and for the Trakia, Maritsa and Struma motorways.
March 6 3 companies vye to build waste recycling plant in Razgrad Media The investment, estimated at 1EUR 5 m, will be provided by the selected contractor. The municipality will allow the investor to sell the recycled waste as a way of recouping the investment.
March 6 Bulgaria to restart port concession procedures Transport Ministry Bulgaria will seek investment through private-public partnerships for the construction of new passenger terminals at the Varna-East and Rousse ports, of hazardous and containerised cargo terminals at the Varna-West port and the Bourgas port and of a grain terminal in the Varna lake.
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

Moody's lifts Bulgaria to investment grade

Ratings agency Moody's raised Bulgaria to investment grade status on Wednesday, March 1, boosting its sovereign credit rating to Baa3 from Ba1 on the Balkan state's fiscal improvements and EU accession prospects.
Moody's was alone among the world's top three ratings agencies to keep Bulgaria out of the ranks of investment-grade countries.
Fitch and Standard and Poor's pushed Bulgaria up to investment grade in 2004 and to 'BBB', a notch higher in the top-level debt stratum, last year.
'The government's financial position and the quality of its institutions have now reached a point where Bulgaria can be considered an investment-grade credit,' Moody's said in a statement quoted by Reuters.
'The country's likely accession to the EU next year should anchor these improvements and sustain momentum for a continuation of reforms.'
Moody's kept the outlook on all the ratings stable. It said Bulgaria had demonstrated commitment to fiscal consolidation while rapid economic growth and fiscal surpluses had cut government debt levels.

Showcase of important issues, deals, and events.
With the contribution of Rivas
March 8, 2006