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Sep 17, 2007 15:59 EEST
September 17 (SeeNews) - Estonian-owned Bulgarian real estate developer Delta Imoti is in talks for buying 60% of Bulgarian-registered developer Q Delta from Estonian Q Vara for an undisclosed sum, a source close to the planned deal said on Monday.
“They [Q Vara] may sell 60% or less than 60%,” the source, who declined to be named, told SeeNews.
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Q Vara holds 60% of Q Delta, which owns a landplot in the capital Sofia, and Delta Imoti owns the remaining stake.
Delta Imoti plans to invest some 20 million euro ($27.7 million) in the construction of office and residential buildings in the Bulgarian capital Sofia in the next few years. It also plans to complete a 70 million euro project near Sofia by 2010.
($ = 0.7205 euro)
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