Securities and Stock Exchanges Commission (SSEC) approved of the prospectuses for public offering of shares of 15 companies, among which Blagoevgrad - BT JSC, Zlatni Piasatzi JSC - Varna, Sviloza JSC - Svishtov and Slitex JSC - Sliven.
Source: Pari (05.01.2000)

The privatization of the residual state stake in the sea-side resort Golden Sands JSC will be put off with another two months at least, the company’s Executive Director Mr. Nikolai Nedkov reported. In 2000 the number of stands in the streets will be reduced three times but the rental fees will go up also three times, Mr. Nedkov said.
Source: Pari (07.01.2000)

The Ministry of Trade and Tourism signed 6 privatization deals: complex Mercurii in Sluntchev Bryag became property of Bulinvest Ltd. - Sofia for USD 1.050.000. 30 per cent of the money were paid cash and the remaining 70 per cent will be paid within 45 days. Restaurant Yalta in Zlatni Piasatzi JSC was sold to Ivtour SPLtd. - Varna for USD 125.000. 78 per cent of Yantra SPJSC - Veliko Turnovo were bought by consortium Yantra Tours Interolympiconstar - Veliko Turnovo for USD 600.000. The new owner of Orbita SPJSC - Shoumen is manager-employee company Orbita - Shoumen 2000 Ltd. - USD 100.000. 20 per cent of Targovska Baza - Gabrovo Ltd. were sold to Commercial Invest JSC - Gabrovo for BGN 102.624.000. 20 per cent of Prisma Ltd. were bought by Marshal - EVA - Todor Angelov & Co. for USD 14.000.
Source: BTA (19.01.2000)

PA declares the deals concluded during december 1999 - Serdika 90 JSC Dobrich, 10 per cent of the capital are sold for BGL 124 578. 40
Source: State Gazette (21.01.2000)

During the last two years in Zlatni Piasatzi JSC - Varna have been invested USD 40 million. This year investments are expected to amount to USD 18 million, stated Director Mr. Nikolay Nedkov. 76 per cent of the resort's assets have been sold through negotiations with potential buyers. 19 per cent will be offered to workers and employees.
Source: Monitor (24.01.2000)

There is no minimum price for sale of Zlatni Piasatzi JSC. The company owns 6 hotels, 20 restaurants, 10 bars. All objects and rights over the land are property of the company.
Source: 24 chasa (27.01.2000)

The Ministry of Economy announced the sales in the Tourism branch performed through negotiations with potential buyers during December 1999: hotel complex Prespa-Rozhen - isolated part of Pamporovo JSC - Chepelare to Orfei99 SP Ltd - Plovdiv, represented by Mr. Hristo Georgiev Kostov for USD 700 000 with an initial payment of 30 per cent from the price and a second payment - no later than 45 days after the date of the signing of the contract; hotel Bor - isolated part of Pamporovo JSC - Chepelare to Aspicor Ltd - Plovdiv, represented by Mr. Vladimir Ivanov Kisiov for USD 420 000 with an initial payment of USD 170 000 and a second payment - no later than 45 days after the date of the signing of the deal; hotel Snezhanka - isolated part of Pamporovo JSC - Chepelare to P.M.K. JSC - Bourgas, represented by Mr. Milko Vulchev Milkov for USD 516 000 paid in the day of the signing of the deal; hotel Panorama - isolated part of Pamporovo JSC - Chepelare to Nordix Trading JSC - Plovdiv, represented by Mr. Boiko Vulkov Boev for USD 430 000 paid in the day of the signing of the contract; hostel Pamporovo - isolated part of Pamporovo JSC - Chepelare to Tias - Car Ltd - Smolian, represented by Mrs. Iordanka Asenova Svrakova for USD 190 000 with an initial payment of 30 per cent from the price and a second payment - no later than 45 days after the date of the signing of the deal;
Source: State Gazette (01.02.2000)

The Ministry of Economy sold 4 state-owned objects for USD 1.455 million. Evrokomers Ltd. is the new owner of Hotel Mimoza in Zlatni Piasatzi - USD 625.000. Motel Gorublyanso Hanche was sold to Balkanstroy JSC for USD 285.000. Camping Vrana was sold to Don 95 Ltd. for USD 470.000. Buyer of Hotel Rose Valley is Doverie JSC - Kazanluk - USD 75.000.
Source: Trud (18.02.2000)

The Ministry of Economy announced the following sales in the tourism branch for the period January 1-31 2000: On January 10 2000 the holiday settlement of Malina, isolated part of Pamporovo JSC - Chepelare was sold to Vinisa Travel Ltd - Sofia, represented by Mr. Georgi Dimitrov Tsurev throught negotiations with potential buyers for the sum of USD 957 000.
Source: State Gazette (25.02.2000)

Prosecutor's Office - Dobrich claims for erasure of RMD Zlatni Privat 21 JSC from the Commercial Register. A check found out that shareholders in RMD Zlatni JSC and RMD Zlatni Privat 21 JSC are the same.
Source: Sega (06.03.2000)

German touring agency TUI will take part in the privatization of Zlatni Piasatzi JSC - Varna through financing the manager-employee company Zlatni Privat 21 JSC, stated Mr. Valentin Yosifov, representative of the German agency for Bulgaria. TUI will take part of the resort complex is Zlatni Privat 21 JSC signs the privatization deal.
Source: Standart (07.03.2000)

Swedish group FISON is preparing an investment programme for Bulgaria, stated its representative Mr. Roni Nordel. FISON has shown interest in the privatization of Zlatni Piasatzi JSC - Varna.
Source: BTA (09.03.2000)

We are going to buy shares of the manager-employee company Zlatni Privat 21 JSC if it wins the privatization of Zlatni Piasatzi JSC - Varna, announced Mr. Volker Buechter, Director of TUI group.
Source: Trud (10.03.2000)

German company Condor & Neckermann Touristic AG announced it will take part in the competition for privatization of 76 per cent of Zlatni Piasatzi JSC. In the last 5 years the company has extended DEM 50 million credits to Bulgarian hotels.
Source: Standart (13.03.2000)

4 offers were submitted for the privatization of Zlatni Piasatzi JSC - Varna - Kapsi Tours Ltd. - Sofia, Zlatni Privat 21 JSC - Dobrich, and a partnership of Zlatni JSC, Agrima JSC - Sofia and Kondor & Neckermann Touristic GmbH - Germany.
Source: Standart (14.03.2000)

On March 16th, 2000 in the Ministry of Economy starts the first stage of negotiations with potential buyers for 76 per cent of Zlatni Piasatzi JSC - Varna. On March 13th were submitted 4 offers for the company's privatization - Capsi Tours Ltd., Zlatni Privat - 21 JSC - Dobrich, a corporate partnership of Zlatni JSC, Agrima JSC - Sofia, and Kondor & Neckermann Touristic (Germany). The fourth offer was submitted by Demex Corporation JSC.
Source: Pari (16.03.2000)

Some of the candidate-buyers of 76 per cent of Zlatni Piasatzi JSC - Varna will probably form a cooperation. This will take place up to April 3rd, 2000, when the candidates have to pay a 10 per cent deposit for participation in the second stage of negotiations. Manager-employee company Zlatni Privat 21 JSC is carrying on negotiations for consolidation with Kapsi Tours Ltd. and Demex Corporation JSC.
Source: Trud (22.03.2000)

Representatives of companies, banks and associations required from Mr. Ivan Kostov tax reliefs for the funds with which they will sustain the culture. 80 members from the selected 100 responded at his invitation to talk about the financing of the Bulgarian Art. Among them were Balkanpharma, BTC, LUKoil, Solvay-Sodi, Assarel-Medet, Zlatni piasatzi, Hebrosbank, BRIBank, Mobikom, Post bank, Municipality bank.
Source: Sega (02.04.2000)

Up to April 3rd, 2000 the candidate-buyers of 76 per cent of Zlatni Piasatzi JSC must pay a deposit for participation in the second stage of the negotiations. The deposit amounts to 10 per cent of the offered price. Candidates are MEBO Zlatni Privat 21 JSC, MEBO Zlatni JSC, Demex Corporation and Kapsi Tours JSC.
Source: Standart (03.04.2000)

Three of the candidate buyers for 76 per cent of the shares of Zlatni Piasaci JSC have paid in due terms the second deposit of the offered price. These are Demex Corporation JSC, Zlatni Privat21 - Dobrich and consortium formed by Zlatni Privat JSC, Agrima JSC and German company Kondor & Neckerman Touristic, was reported from the Ministry of Economy. The forth candidate buyer - Kapsi Tours Ltd withdrew his offer.
Source: 24 chasa (04.04.2000)

Exclusive buyer of 76 per cent of Zlatni Piasatzi JSC was selected the consortium formed by MEBO Zlatni JSC, Kondor & Neckermann Touristic - Germany and Agrima JSC. The buyer offered a price of USD 96.234 million.
Source: Democracy (07.04.2000)

German tour-operator Condor & Neckermann Touristic is going to invest DEM 20 million in the private hotels at the Black Sea coast, announced Mr. Herbert Ronchevich, Director of Trade. The company participates in a consortium with MEBO Zlatni JSC and Agrima JSC for privatization of 76 per cent of Zlatni Piasatzi JSC.
Source: BTA (10.04.2000)

The Deputy Prime Minister Mr. Peter Zhotev has to take Zlatni Piasatzi deal in the Supervisory Board of the agency or it may be contested, stated its Director Mr. Assen Dulgerov. Zhotev began negotiations for the resort with the chosen for the buyer MEBO Zlatni that is in consortium with Neckerman and Agreda.
Source: Standart (13.04.2000)

The consortium including MEBO Zlatni JSC, Kondor & Nekerman touristic JSC-Germany and Agrima JSC became the owner of 76 per cent of the capital of Zlatni piasatzi JSC. Last Friday Mr. Peter Zhotev signed the privatization contract. The price of the deal is USD 96.235 million. MEBO Zlatni obtained 63,84 from the shares of the tourist company and will pay from the whole price USD 80.837 million.
Source: Pari (17.04.2000)

The State is robbed deliberately with BGL 305 991 000 over 1999. This is due to the bad government and weak financial discipline in companies and organizations that are supported by the budget. The damages are 3 times bigger than these in 1998. This is the result of 5028 revisions of Main department State Financial Control.
Source: Sega (19.04.2000)

About 30 hotels from Zlatni piasatzi resort will be resold, was declared from the Tourist Association in Varna. These hotels have not been built yet because of the beginning of the season. The list with the hotels may be longer including the repaired hotels.
Source: Pari (09.05.2000)

The Board of Directors of Zlatni JSC was increased from 3 to 5 members, was cleared after the extraordinary General Meeting of the company. MEBO Zlatni JSC of the Executive Director of the resort Mr. Nikolai Nedkov won the competition for 76 per cent of the shares of Zlatni piasatzi JSC. Mr. Nedkov refused to announce the new members of the Board.
Source: Sega (10.05.2000)

The Ministry of Economy proclaimed the following sales for April 2000:
Source: State Gazette (30.05.2000)

The German company Nekerman gave a bank guarantee on the loan for MEBO Zlatni for the purchase of Zlatni piasatzi JSC, was stated from the Ministry of Economy. The bank guarantee of USD 2 500 000 is granted for loan of the MEBO, received for the privatization of 76 per cent of the sea resort Zlatni piasatzi. Necerman informed the Ministry of Economy that had provided a guarantee letter in BRIBank, with which guarantee the execution of MEBO Zlatni on the credit for the privatization of the complex.
Source: BTA (21.06.2000)

The shareholders of Zlatni piasatzi decided the profit for 1999 to be reinvested and not to be allocated any dividend. In the end of April the company was privatized. 76 per cent of the shares were bought by MEBO Zlatni, C&N Touristic and Agrima. It was selected a new 7-members Board of Directors.
Source: Standart (24.06.2000)

Hotel International, the former symbol of Zlatni piasatzi JSC will be exploded, stated the new member of the Board of Directors of Mr. Herbert Ronchevich. He is Contracting Manager in C&N Touristic and participated in the negotiations for the purchase of 76 per cent of the shares of the State tourist company on its behalf. The new owner of the company MEBO Zlatni, C&N and Agrima will reconstruct the hotel on their own. According to the investment programme of Zlatni piasatzi on its place will be constructed a hotel with four stars and 850 beds.
Source: Sega (26.06.2000)

The three month period in which the workers in Zlatni piasatzi JSC could buy 19 per cent of the capital at relieving conditions started.
Source: Pari (28.06.2000)

The seaside resort Golden Sands JSC - Zlatni Piasatsi has managed for two years in a row to cover its losses from its main activity by transferring money from the sale of objects. This was report by the inspector Mr. Nikolai Nikolov, who made the inspection of the company this year. In 1998 the loss of the resort from its main activity was BGN 2.535 million, and in 1999 it was BGN 5.955 million. But the management transferred money from the sale of objects in order to cover this and in this way they managed to report a profit of BGN 21million for 1998 and BGN 20 million for 1999. This is a typical violation, according to the inspector.
Source: Sega (09.08.2000)

The foreign investments in the State by September have been about USD 600 million and by the end of the year they will reach USD 1 billion, according to the Chairman of the Foreign Investments Agency Mr. george Tabakov. For the first six months of the year are invested USD 300 million by foreign investments. Among the investors and the most significant investments are the purchase of companies by Solvay Sodi, the investment of the Austrian Bila, the incomes from the Italian bank Unicredito for Bulbank, the purchase of New television and radio Express and the construction of a plant for refrigarators and others.
Source: Black sea (20.09.2000)

Sofia City Court registered Golden Trading Ltd. The head-office and the address of the company is Sofia, Lozenetz region, Elin Pelin 16 Str. The activity of the company is trade intermediary and agency, tourist and tour-operator services, any other activity that is not forbidden by the Law. The capital of the company is BGN 2 030 000. Partners in the company are Zlatni Piasatzi JSC and Zlatni JSC. The company is managed and represented by Mrs. Svetla Spasovska.
Source: State Gazette (26.09.2000)

Most of the companies that bought memorandum for privatization of 60 per cent of Pamporovo JSC are vaguely known. Among them a famous name is the company Demex corporation. It took part in the privatization procedures of almost all big tourist objects and obviosuly has financial funds - for the purchase of Zlatni piasatzi it offered more than USD 70 million.
Source: Banker (02.10.2000)

The Bulgarian-American credit bank opened its first office in Varna - its sole representation outside Sofia. The bank is financed by the Bulgarian-American Enterprise Fund and is specialized in the credit services. The Development Manager of the bank Mr. Ivailo Botev stated at a press conference that the company invests only in the private sector and he also added that the credit institution works on 3 programmes. The first one is connected with direct investments, shares or crediting of small and medium companies. The second one is a hotel programme and the third one is for the mortgage crediting. The office in Varna is opened to grant credits that are included in the third programme.
Source: Black sea (04.10.2000)

DZI will win over BGN 20 000 from operation, dealed with the bank of the Olimp circle. The insurer provided EUR 2.35 million own funds of the Economic and Investment bank (the former BRIBank). This happened after DZI purchased shares of two Olimp's companies. These are Katex, Kazanluk and OZK - Kurdzhali. The shares are property of BRIBank. By this way the bank can use a financial resource and the insurer to gain BGN 20 000. The deal is completely legal, according to lawyers. The contract for substitution of the term deposit with shares is with 33-day deadline.
Source: Trud (11.10.2000)

The German company Trapencampf will renovate the hotel International in Zlatni piasatzi. It will be completely renewed in the winter and will be opened for tourists ever in the beginning of the coming relaxing season. USD 2 million will invest the German investor in the repair of the hotel. The owner of the company Trapencampf Mr. Mokar Sharat intends to invest funds also in the infrastructure of the hotel. The investment has to be realized in a period of 8 months.
Source: Black sea (24.10.2000)

The German company Trappenkampf and C&N Touristic are negotiating together to reconstruct and keep the hotel Iternational at Zlatni piasatzi resort. The first company has already possessed 51 per cent of the shares of International JSC and the second is one of the owners of the whole resort. C&N Touristic intends to take 36 per cent from the shares of International JSC and to finance a part of the reconstruction. It wants to buy also shares from the part of Trappenkampf. DEM 18 million will cost the whole reconstruction of the building. By May, 2001 has to be finished the first base of the reconstruction.
Source: Black sea (22.11.2000)

Visas at prices varying from USD 10 to USD 20 will not prevent Russian tourists from coming to the Black Sea, said Mr. Dotrko Dotkov, the Commercial Manager of the sea-side resorts Golden Sands JSC - Varna. In case the price goes higher, we will talk to our Russian partners to share them, he added. This summer the guests from the former Soviet republics resting at the Bulgarian Black Sea coast comprised 5.5 per cent of all the tourists. The number is expected to rise by 25 per cent next summer. This year the management of the privatized resort Golden Sands JSC invested the amount of USD 20 million mainly in raising the hotels category and the infrastructure. Investments planed for 2001 will reach some new USD 20 million, the resort’s Executive Director Nikolai Nedkov said. The amount of USD 12.3 million of them will be spent for infrastructure investments.
Source: Democracy (19.12.2000)