Over 100 industrial firms priced between €1 mln and €20 mln for sale since the start of 2012

More than 100 industrial companies have been put up for sale since the start of this year, with at least another 100 expected to go on the market by the end of 2012, Orlin Vladikov, real estate expert and a former Chairman of the National Real Estate Association, told BTA, Darik radio reported. The enterprises already for sale are in the price range of between €1 mln and €20 mln. The list includes Hydroelectric Power Plants, engineering, food and furniture companies and grain warehouses.

Between 5% and 8% of these companies have shareholders from financially troubled European countries, as well as foreign investors initially lured by the advantageous purchase prices of renewable energy, Vladikov commented.

The remaining industrial companies offered for sale are 100% Bulgarian-owned. According to Vladikov, the increase in the number of industrial properties in all sectors and in all regions of Bulgaria that have been put up for sale is due to the decline in domestic consumption, manufacturers’ difficulties in getting turnover capital, the lack of eased procedures for issuing permits for construction and reconstruction, and the global economic crisis. Kamen Kolev, Vice-Chairman of the Bulgarian Industrial Association (BIA), confirmed these reasons, paying particular attention to intercompany indebtedness, which stands at around BGN 160-170 bn and is still increasing, albeit at a slower pace than in 2008, 2009 and 2010.

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