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Cammel Laird to Bid for Varna Shipyard in New Procedure.

Europe Intelligence Wire

| September 01, 2003 | COPYRIGHT 2003 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 TONCHEVA

Soros's crony ready to negotiate with Navibulgar's new management

BRITAIN'S Cammel Laird will bid for the Varna shipyard if a new sales procedure is opened, the PARI daily learned. According to sources, the shipyard will be sold as a self-contained part of Navigation Maritime Bulgare (Navibulgar) through Bulgaria's Privatisation Agency.

A key requirement to the future buyer of the works will be experience in shipbuilding and shiprepair, knowledgeable sources say. According to them that gives reason to belive that the British company, which wanted to buy the shipyard before it was acquired by Navibulgar, will be among the potential bidders.

Cammel Laird sent a letter of intent but did not participate in the latest sales procedure. The company is said to have had information that Navibulgar's former management was lobbying for Baker Investment and found it useless to file an offer. Cammel Laird however monitored the tender and were acquired with the reasons for the failure of the deal. Sources say they are ready to take part in the bidding if the new conditions satisfy them.

According to insiders, Wessels-Amstel-Phil, the German-Dutch consortium which showed interest in the Varna shipyard but did not submit an offer during the procedure that was terminated two weeks ago, will also be among the candidates.

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