Date Target Vendor Investor Size Comment
March 20 Capital increase Insurer Allianz Bulgaria Allianz Bulgaria EUR 6 m The company reported a profit of EUR 2.35 m for '05.The gross premium income of the insurer jumped 33% to EUR 19 m last year which represents a market share of around 25%.
March 16 Two vessels Bulgaria's Bulyard Shipbuilding Industries Industrial Holding Bulgaria (IHB) EUR 26 m IHB owns 51.5% of the Bulyard consortium which, in turn, controls 75% of Bulyard Ship-building Industry.IHB is one of the biggest among the former privatisation funds and the top profit-maker for 2005. Last year's consolidated profit of the company was reported at EUR 15.2 m or 1.42 levs per share.
March 16 Purchase of 70% of state-owned river shipping company (BRSC) State Bulgarian conglomerate Chimimport EUR 11.2 m Chimimport bid for BRSC in 2005, pledging to invest EUR 25 m over the next 5 years while creating 160 new jobs.
March 16 Purchase of Hotel Allegra on Black Sea coast Alliance Tours Russian travel company Neva EUR 10 m The 4-star hotel has 174 rooms and is situated in the resort of Zlatni Pyasatsi.
March 15 Expand activities Bulgarian construction and investment company Balkanstroy Balkanstroy EUR 32 m By 2008 the company aims to raise revenue by up to 100%.
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 22 Czech utility company CEZ aims to buy 100% of Varna thermal power station in April CEZ CEZ offered EUR 206 m for the TP and has agreed to commit additional EUR 40 m in an investment fund that will implement projects in the energy sector.
March 20 The Bulgarian real estate market up 20% to EUR 8 b in '05 National Real Property Association However, growing supply will level off residential housing prices in Sofia. The trend has already impacted several market segments in the capital where prices for some types of properties declined in late 2005.
March 20 Record-low unemployment level of 11.5% Government The unemployment is decreasing as the beginning of the 2006 saw the launch of most of the projects for unemployment reduction opened by the government.
March 20 Bulgaria's Bulgargas to take part in Burgas-Alexandropoulis oil pipeline project Bulgarian Economy Ministry Bulgaria's Regional Development Ministry plans to establish a company to invest in the project. Bulgargaz would hold 20% of the company's shares, Universal terminal - Burgas will hold the rest.
March 17 Special Purpose Vehicle FairPlay Properties has signed an agreement for the construction of the Santa Marina residential community near Sozopol Special Purpose Vehicle FairPlay Properties The compound, which should be ready by April 2007, will have a built-up area of 7,691 sq m. Four villas with a total of 96 apartments will be built during the first stage of construction.FairPlay is currently performing a mandatory capital raise.
March 16 Siemens and 38 others bid to build Sofia garbage processing unit Sofia Municipality The top priority in selecting the technology for Sofia's new waste recycling plant will be the charge per ton of garbage that the local government will be paying to the plant operator.
March 15 Greek utility PPC may start acquisition talks for Bobov Dol power station Media PPC bid EUR 36.17 m for a 51% stake in the TPP and pledged EUR 34.8 m for a capital raise.
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

Hunt for IT professionals and engineers

Engineers and computer experts with foreign language fluency are the most in demand on the Bulgarian labour market, it emerged at the Careers 2006 fair in Sofia.
The number of software and engineering companies looking to recruit personnel has reached a peak in the 6-year history of the jobs fair. MBAs, sales executives and financiers were most in demand a couple of years ago but the labour market has shifted in favour of graduates with technical education.
The recent influx of multinational technology companies attracted by the robust business environment and quality of labor, started the competitive hunt for IT professionals in Bulgaria. Several high-tech companies announced in the past couple of months plans to relocate part of their production to Bulgaria.
- Hewlett-Packard said it will open a centre in Bulgaria this year providing support such as help desks to clients in Europe, the Middle East and Africa. Ajilon and Sitel, HP's partners in the project are in charge of hiring a significant part of the technical workforce.
- In early March, Siemens said it will shunt part of its production operations to Bulgaria and is currently hiring around 100 new staffers.
- The list of high-tech companies hiring for the expansion of their operations in Bulgaria includes software giant SAP, Belgium Epiq Electronic Assembly, sensors maker Sensor-Nite Industrial and automotive systems maker Johnson Controls.
Showcase of important issues, deals, and events.
With the contribution of Rivas
March 22, 2006