September 9 (SeeNews) - Bulgarian juice producer Balkan Beverages, the successor of Florina-Bulgaria, said its parent VM Finance Group has sold it to Guernsey-based New Europe Special Situations Ltd. The company does not specify the reasons for the transaction, which took place on September 4. Balkan Beverages, founded in 1993 as Florina-Bulgaria, is a producer of fruit juices, nectars, and carbonated beverages. It was bought in 2011 by Sofia-based conglomerate VM Finance Group and renamed to Balkan Beverages Company in 2013. The acquisition aimed to strengthen the financial position of Florina-Bulgaria which had difficulties in servicing its 14.4 million levs ($9.86 million/7.36 million euro) bond, issued in 2007.
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