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Bulgaria's CSIF plans to buy Fish Port Burgas, Buljac

SOFIA (Bulgaria), July 22 (SeeNews) - Sofia-based private investment company Clever Synergies Investment Fund (CSIF) plans to acquire port operator Fish Port in the city of Burgas and fish processing company Buljac, the country’s anti-trust regulator said.

The Commission for Protection of Competition (CPC) is to decide by July 24 whether the deal will affect the market for port services in Bulgaria, it said in a statement last week.

The acquisition will complement the operations of CSIF's logistics company Despred, CSIF's owner, Tsvetelina Borislavova, told Capital daily. Despred provides international freight forwarding services for water, air, and road transport .

Fish Port and Buljac are owned by individual investors, who acquired the assets in the privatisation of former shipping company Okeanski Ribolov. Fish Port handles 200,000 tonnes of cargo a year. It registered a revenue of 2.2 million levs ($1.5 million/1.1 million euro) and a net profit of 237,000 levs for 2012, data in the Company Register showed. On the other hand, Buljac posted a net loss of 200,000 levs on a revenue of 2 million levs for 2012.

CSIF, set up in 2005, holds assets in wind farm projects with a projected capacity of 250 MW, in mining equipment factory Monek Yug and also a number of hotels in ski resorts across the country and some 200 hectares of farm land. The company's holder, Borislavova, is the former owner of Bulgaria's CIBank, which she sold last year to Belgian financial group KBC for an undisclosed sum.

(1 euro = 1.9558 Bulgarian levs)

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