Investment fund Equest in talks for majority stake in Borovets expansion project

Investment fund Equest in talks for majority stake in Borovets expansion project

Dnevnik weekly

Investment fund Equest in talks for majority stake in Borovets expansion project Investment fund Equest is in talks with Bulgarian construction company Glavbolgarstroy to become a shareholder in the company tapped to expand local ski resort Borovets. It will transpire over the next couple of days whether or not Equest will sign an agreement with Glavbolgarstroy that will establish the fund as the majority shareholder in the project, said Equest managing partner Georgi Krumov. The fund is pursuing a stake of at least 51% or else it would be unable to successfully structure financially the project, said the company official. Glavbolgarstroy president Simeon Peshov said Tuesday he would refrain from comments on the project until Thursday, February 22. This is date on which the Samokov municipal council is expected to approve a deal in which Vesela Kyuleva, the widow of assassinated Bulgarian banker Emil Kyulev, transfers her stake in the Super Borovets project to Glavbolgarstroy. Kontrakt 99, the vehicle for the Kyulev's participation in the resort expansion project, and Glavbolgarstroy signed a preliminary agreement for the share sale late last week. Prior the deal, Kontrakt 99 used to control the majority stake in Rila-Samokov 2004, a company specially incorporated for the implementation of the Super Borovets project. If the deal is completed successfully, the top shareholder will be Glavbolgarstroy with 75%. The Samokov municipality, where the Borovets ski resort is located, owns 25% with the residual 8% held by Energokomplekt. Rila-Samokov 2004, Kyulev's brainchild, was conceived with the goal of expanding the existing Borovets resort. Super Borovets is a large project that would overwhelm an investor going it alone, noted Krumov. In related news, the company operating the Borovets skiing facilities under a concession arrangement said it has drafted a plan for the development of the resort that maps out a pace of infrastructure expansion matched to the bed capacity. According to the Balkantourist plan, the bed capacity of the resort, currently at 6,500, should not exceed 15,000. The plan will be submitted for approval to the Samokov municipality by May, said Balkantourist manager Nedialka Sandalska. Super Borovets envisages the phased construction of hotels and holiday villages with over 17,000 beds including sites at low altitudes.
     
  • val From United Kingdom
    Sent on 15 February 2017
    group of us just back from borovets.we arrived 4th feb 2017 and departed 11th feb.had a great time.hotel rila was fab.great gym and spa.food was good.ski school was great.we had a really good instructor Martin Hristov.he was really good with everyone took time to try and learn everyone.we all had a great time thankyou.will be back next yearx
  • Alison From England
    Sent on 15 January 2017
    I wonder if the poor review is really about the Winslow Elegance. We have been going for years. It does not serve food and never has done. However, the spacious accommodation is for self-catering. We have always found it to be clean and we have always found that the reception staff can not do enough for you. We are looking forward to our next visit in February, 2017, Bring it on!!
  • RobJ From UK
    Sent on 01 January 2017
    Had a great week over xmas there - Hotel Lion was great, didn't see any lift queues but I did get there early. Easy blues for the most part, not loads for the advanced skier but great for beginners and families. I had more fun here than Chamonix last year at the same time. Bottom line ...manage your expectations... it is more than value for money but don't expect Whistler.
  • Pepa From Madrid
    Sent on 24 August 2016
    Un citio presioso pero todo lo demas mentira.la comida,el personal muy mal.No lo recomiendo a nadie.Es una publicidad engañosa.Y de All inclusive nada.No se dejen engañar por las paginas web.Por desgracia en Bulgaria todavia el consumidor no es nadie.
  • Juglena Bankova From Bulgaria
    Sent on 13 May 2016
    Nie byakhme tam na Velikden i pisha malko kŭsno. No vpechatleniata sa ni poveche ot prekrasni! Velikolepna kuhnia (ne savetvat jenite na dieta, da hodiat za poveche ot tri dni, zashtoto yastiyata sa neustoimi, vkusni i ogromni)! Great stil! I mnogo priaten personal!(osobeno damata v restoranta) Pozdravleniya !
  • ger99 From turkey
    Sent on 01 March 2015
    We loved it. Had a perfect 2 bedroom apartment modern, clean new renovated With view to slope. Perfect location in pamporovo as central ski in ski out. Friendly staff, not ovr crowded relaxed athmosphere. our friends (group with total of 7 rooms) all very happy! It is away from city center but close to bowling and 2 nice reaturans.
  • ashley hensman From uk
    Sent on 01 March 2015
    Flora is a lovely hotel clean in a great location and the food was good just make sure you use the safes.
  • Enjoy ski From UK
    Sent on 27 February 2015
    Just came back from Sevlievo in Bulgaria. Drove up to Hotel Impulse in Uzana where I hired skis, boots and poles for myself and two children for just 17 levs for adult and 10 levs each child and used the hotel ski slope 5 levs each. Perfect for the kids first time as parking right at entrance to hotel and slope is 20m walk! Food in restaurant tasty and cheap. Perfect for beginners!
  • Charlotte Hennessy From england
    Sent on 23 February 2015
    WOW, thats all i can say about the previous week of my life. The snow conditions were amazing and the people were so friendly. The night life was always active and the rila hotel was especially fantastic. I loved the accommodation at the rila and i loved the way it is right on the slope. I wouldn't have changed a thing about the holiday and i would recommend this resort to everyone including beginners and experts. Overall, i had an amazing time!!!
  • Brian mcvey From Scotland
    Sent on 20 February 2015
    Going to borovets for 2nd time this time with my son. Had a great time 4 years ago, now with park I expect it to be a lot better now and it was brill last time round. 20 days and counting
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