Date Target Vendor Investor Size Comment
June 8 Tiles factory The town of Vetovo Keros Ceramica (Spain) Euro 12 mln Up to 300 people can be employed in the factory and another several hundred in satellite activities. The plant will be equipped with an Italian line for faience tiles and granitogres with a daily capacity of 9,000 sq m using kaolin from the nearby deposit.
June 7 Buyout of feed additives business The animal healthcare firm Intervet, part of Akzo Nobel, Dutch Chemical Group Biovet Euro 22.5 mln Biovet, with a staff of more than 700, has a 35% share of the domestic veterinary drugs market and exports some 50% of its output to the European Union. The company has subsidiaries in Poland, Italy and China.
June 7 2005-2009 projected upgrade of pipeline network The district heating utility of Sofia Sofia Heating Co Euro 170 mln The utility plans to complete its ongoing upgrade programme, financed by a Euro 114 mln loan from EBRD and the World Bank, in 2006.
June 6 Construction of plant for recycling of petroleum residues Smiadovo Municipality Bulgarian fuel retailer Mega Group Euro 12 mln This will be the first plant for deep processing of oil residues in the Balkans using waste-free, closed-cycle technology
June 6 Property developments in Bulgaria Orchid Developments UK investment banking group Shore Capital and EBRD Euro 30 mln Orchid owns two hotels in Bulgaria's Black Sea resort of Golden Sands, two residential and five commercial buildings in Bulgaria, attracted by Bulgaria's expected EU membership
June 4 Credit line for SMEs HVB Bank Biochim Kreditanstalt für Wiederaufbau (KFW) and The Council of Europe Development Bank (CEB) Euro 22 mln HVB Bank Biochim will issue loans worth up to 125,000 Euro.
June 4 Wind park construction Bourgas Municipality Mitsui (Japan) Euro 10 - 15 mln
June 2 Completes takeover Bulgarian mineral water bottler Bankia Coca-Cola Company 100% stake The acquisition cost and the financial results would be shared equally by Coca-Cola Hellenic Bottling Company S.A. (CCHBC) and the Coca-Cola Company
June 2 Building second hypermarket Dobrich Municipality Hit (Germany) Euro 10 mln Bulgaria is becoming more attractive for foreign retailers, mainly because of the population's increasing purchasing power and the country's forthcoming EU membership.
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 19
June 7 Issue of Euro 5 mln in Corporate Bonds The Bulgarian pharmaceutical company Sopharma The company has some Euro 34 mln in equity capital and is part of the SOFIX blue-chip index of the Bulgarian stock market.
June 6 Supply of appartments exceeds demand Foros
June 3 Bulgaria Licenses First Co-op Automobile Recycler Ministry of Environment and Water Autoecopack is the country's first co-operative firm to enter the estimated Euro 2.4 mln business of recycling old vehicles. The Ministry of Environment and Water has launched on May 31 a tender to build two facilities to dismantle old cars and prepare them for recycling. The two investors that will be selected will get a total of Euro 17 mln in low-cost loans from the state.
June 3 World Bank OKs $150 Mln PAL 3 Loan for Bulgaria The World Bank The loan targets to support building human capital and improving delivery of social services. The total amount of the three loans under the PAL program stands at $425 million.
June 3 Foreign Investors in SEE to push for reforms for stronger growth Bulgarian International Business Association (BIBA) official Investors in Bulgaria work together with the government towards increasing Bulgaria's competitiveness
June 2 Bulgaria OKs 66.5 Mln Euro EBRD/ISPA-funded upgrade of water utility Government The EBRD said in a statement the Burgas water utility project is the first case, when the Bank is lending to a Bulgarian state-owned company without seeking government guarantees. Bulgaria's water supply sector needs Euro 3.5 bn to upgrade its antiquated network and bring drinking water quality to EU standards by 2015.
June 2 Austrian OMV and Bulgaria Bulgargas seal cooperation deal OMV Gas Together with Bulgargas and OMV, Turkish Botas, Romanian Transgas, Hungarian MOL hold equal stakes in the Euro 4.5 bn Nabucco pipeline project, which aims to channel gas from the Middle East to Central Europe beginning in 2011.
June 1 Telekom Austria to speed up purchase of Bulgarian Mobiltel Telekom Austria Mobiltel posted Euro 306 mln earnings before interest, taxes, depreciation and amortisation (EBITDA) for 2004. Its revenues stood at Euro 486 mln last year. In the first quarter, Mobiltel generated revenues and EBITDA of Euro 119 mln and Euro 80 mln, respectively.
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

Petreco SARL to invest $ 35 mln in Bulgaria gas drilling ops

Investor: Petreco SARL, a subsidiary of Britain's Melrose Resources Plc
Volume: $ 25 mln
Period: by end-2005
Project: drilling operations and new compressor equipment
Target: Galata II, a small gas deposit located 23 km offshore in the Black Sea on the eastern coast of Bulgaria
Yields: 450 cu m annually; by 2010 Petreco will able to meet 15% of domestic demand

So far, Melrose Resources has invested $ 110 in Bulgaria. Luxembourg-based Petreco SARL is the sole owner of Petreco Bulgaria. In 2001 it signed a concession contract with the then State Agency for Energy and Energy Resources for exploration and exploitation of the Galata deposit. Its reserves are estimated at 1.841 bn cu m. Extraction began on February 2004.

In late May, U.S.-based GX Technology Corporation and the local company Grupa za Nauchni Izsledvaniya i Serviz transferred to Petreco.
Showcase of important issues, deals, and events.
With the contribution of Rivas
June 8, 2005