Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Russia's Mechel Acquires Bulgarian Heating Utility
RUSSIA'S MECHEL ACQUIRES BULGARIAN HEATING UTILITY
Date: 25/11/2010
Source: novinite.com
Russia's Mechel Acquires Bulgarian Heating Utility

Russian mining and steel conglomerate Mechel OAO has acquired another 51% stake in the heating and power plant in the Danube town of Russe, northern Bulgaria, boosting its interest to 100%.

The Moscow-based company said the move will strengthen its position in the power industry and create development opportunities.

Mechel paid EUR 52 M to boost its stake in the plant to 100% from 49% previously, the seller, Slovenia's Holding Slovenske Elektrarne (HSE), said on its website.

Consolidation of the plant was a strategic move for Mechel because it is "among the three largest foreign customers of Mechel's steam coal," Dmitry Smolin, an analyst at UralSib Capital in Moscow, commented.

In December 2007 the Russian company received green light to acquire a 49% stake in the company.

Earlier that year, Bulgaria sold its full stake in the utility, which owns and operates the power plant in the city, to Slovak power utility Slovenske Elektrarne for EUR 85,1 M.

Under the terms of the contract, Slovenske Elektrarne could not sell a majority stake in the company in the first three years after acquisition without the accord of the Bulgarian government.


Topic: Business



Featured District
STARA ZAGORA DISTRICT AND CITY INFORMATIONStara Zagora
Invest Bulgaria Charts
Domestic Credit of Bulgaria
Domestic Credit of Bulgaria

Foreign assets of Bulgaria
Foreign assets of Bulgaria

See all charts
Did You Know?
Cost of Labor in Bulgaria
Cost of Labor in Bulgaria
A Bulgarian software project leader makes about 1,200 Euros a month ... More

Madara Horseman is an expressive bas-relief from 7th century, carved high out of the sheer rock, and depicting a horseman spearing a lion. It symbolizes greatness of the ruler and the power of his state. Europe's only rock relief dating from the early Middle Ages. Located 20 km from the town of Shoumen, NE Bulgaria.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2020 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


SEO оптимизация Bulgaria Translation Bulgarian Agriculture Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members