January 30 (SeeNews) - A bailiff has offered for sale assets of Sofia-based Golf Club company, according to a notice, published on the website of the Bulgarian Chamber of Private Enforcement Agents.
The assets include eight plots of land and all buildings located on them, together forming St. Sofia Golf Club and Spa centre. They are offered for a starting price of 12.0 million levs ($7.6 million/6.1 million euro).
Currently, the company assets are under distraint over unpaid debt of 2.2 million levs owed to IGS Management and 821,200 euro owed to Urbanico, according to data from the country's commercial register.
St. Sofia Golf Club and Spa, located near Sofia, consists of a golf course, football field, fitness centre, spa centre, hotel and several other facilities.
Golf Club is a wholly owned subsidiary of Bulgaria Development Holdings Limited.
In August last year, the Bulgarian government renewed the investment project certificate of Bulgaria Development Holdings Limited for development of an entertainment and business complex near Sofia, expected to be worth over 1.5 billion euro. St. Sofia Golf Club and Spa was planned to become part of the complex.
Bulgaria Development Holdings Limited is a wholly owned unit of Bulgaria's Capital Concept Limited (CCL) [BUL:WCO].
CCL was admitted to trading on the Bulgarian Stock Exchange (BSE) in October 2017, and with market capitalisation of 13.3 billion levs became the biggest in this regard on the Sofia bourse. However, since then, a total of seven transactions with its shares were concluded on the floor of the BSE, which is below the minimum requirement for trading on the bourse's main market. As a result, the company was removed from BSE's main market on January 17 and was transferred to the BaSE Alternative Market of the Sofia bourse.
(1 euro = 1.95583 levs)