Navibulgar, BRP to form transport JV03.01.2011

Bulgarian marine fleet operator Navibulgar and Bulgarian river shipping company BRP plan to create a transport joint venture, the Financial Supervision Commission (FSC) said in a statement. The new business will be created on an equal-equity basis and will serve the transport ferry link Varna - Caucasus. The news was confirmed for Dnevnik by both companies, which however declined to reveal further information on the deal before hearing the decision of the financial watchdog. Navibulgar is 70%-owned by German-Bulgarian consortium KG Maritime Shipping and 30% by local firm Advance Properties, while BRP is a unit of blue-blooded industrial conglomerate Chimimport.

Source: Dnevnik

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