EQUEST BUYS 67% STAKE IN BOROVETS DEVELOPER

Dnevnik news, * with excerpts

Equest buys 67% stake in Borovets developer
Investment fund Equest Investment Balkans (EIB) has made a non-refundable payment of 5 mln euro to purchase an option to acquire 67% of Rila-Samokov 2004 AD, the project company that owns 2 mln sq m of land in Bulgaria's Borovets mountain area for further development into residential second homes and associated infrastructure, the company said in filing with the London Stock Exchange.

The Samokov municipality retains its 25% share in Rila Samokov 2004 AD which means the that other shareholder, construction company Glavbolgarstroy, is left with 8% after the deal with EIB.
More information on Borovets region read here read here!

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