Offshore company acquires Kremikovtzi for BGN 20,000

A company registered in the British Virgin Islands is the new owner of the Kremikovtzi iron and steel works, became clear from a check-up in the Commercial Register. Bessian Management Limited has purchased for BGN 20,000 the Eltrade Company which acquired the bankrupt Kremikovtzi in April 2011. Eltrade Company’s Head, 26-year-old Lachezar Varnadzhiev, paid more than BGN 316 mln for Kremikovtzi’s assets. The money for the purchase was borrowed from First Investment Bank (FIB) and, according to Minister of Economy, Energy and Tourism, Traicho Traikov, the metal recycling company Nadine is behind Eltrade Company. The credit from FIB was extended after assets of Kremikovtzi were pledged as collateral.

Varnadzhiev was also the authorised representative of Bessian Management Limited in the recent deal. The offshore company is owned by the Cypriot Bun Secretarial Limited, headed by Lenia Papadopoulou. The deal was signed on July 5 but Varnadzhiev made the decision on it on June 24.

At the beginning of this week, it became clear that Kremikovtzi’s former workers will get their overdue wages. A partial account for the repayment of debts was published by Tzvetan Bankov, trustee in bankruptcy of the iron and steel works. It became clear from it that the biggest losers among Kremikovtzi’s creditors are the bondholders, the state-owned National Electric Company and the Bulgarian State Railways.

Прочети цялата новина

Свързани новини: