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Nove Holding's Structure Allegedly Buys 30% of NMB.

Europe Intelligence Wire

| December 01, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From PARI Daily)

Byline: Iliana TONCHEV and Tanya RAYCHEVA

THE MINORITY package of shares in Bulgaria's maritime carrier, Navigation Maritime Bulgare (NMB), will be bought for compensatory instruments on the bourse by Transimpex if no strategic investor turns up for the company, MP Blagoy Dimitrov of the United Democratic Forces (UtDF) told the PARI daily. Shareholder in Transimpex is Nove Holding.

A day ago the MPs from Varna discussed NMB's privatisation strategy with the trade unions. Krassimir Valchev of the sailors' union was also categorical the minority package will go into the hands of one single buyer.

The government expects a powerful investor to show interest in NMB but such a company would hardly want to buy 85 old ships, ...

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