A newly established company pays BGN 316 mln for the Kremikovtzi metallurgical plant

“The assets of the Kremikovtzi metallurgical plant declared once again for sale at public auction were acquired yesterday by Eltrade Company,” said the trustee in bankruptcy of the plant, Tzvetan Bankov. He was not able to release more details about the deal, but said that the documents of the company had been in perfect order.

“The company’s representatives paid the 10% deposit of BGN 31.6 mln, and until next Monday should remit the remaining BGN 316 mln,” said Bankov. The manager of the company is a 25-year-old man - Lachezar Varnadzhiev and the company was the only one  to particpate in the auction. Bankov presumed before Klassa that the company had been created exclusively for the purchase of the detached part of the plant. It will get the production site with office buildings. The assets comprise a terrain of approximately 8100 decares , and the administrative buildings on it, the commercial directorate of the plant and some movable property such as cars. After the previous auction, in November, Bankov told Klassa that the aim was not maintain the activities of the company, but just to cashi its assets.

The scope of activity of Eltrade Company, as stated in the Commercial Register covers trading in ferrous and nonferrous metals and production activities. Varnadzhiev, who is the sole proprietor of the company, is from the town of Belene. His name appears in the list of the Chamber of Engineers in Investment Design. Yesterday, he declined to explain how he intended to find the necessary means for the acquisition until Monday. This is the deadline for the transfer of BGN 316 mln to a special account of Kremikovtzi in the Bulgarian Development Bank. The potential owner refused to speak with the trustee in bankruptcy as well, said Bankov yesterday . Company Nadine-N was registered at the specified address of Eltrade Company, show the records in the Register.

“The Sofia City Court should check the deal, and has to rule on the accession to the estate. After that the property will be transferred to the Eltrade Company,” said Bankov.

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