Forem and partner EU consultants discuss the strategies for optimization of OP ‘Competitiveness’ with the Ministry of Economy, Energy and Tourism

Forem and partner EU consulting companies continue the successful initiative to lead a discussion with representatives of the Ministry of Economy, Energy and Tourism over the measures for improving the practices on Operational programme ‘Competitiveness’. On 08.10.2009 there was a meeting with EU consultants , based on Mrs. Julieta Hubanova’s invitation, who is ‘European funds and programs’ advisor at the Ministry of Economy, Energy and Tourism. The purpose of the meeting was to discuss the suggestions for solving the problems of the Operational programme, concerning the small and medium enterprises.

Read more

We Will Witness a Thick Pipeline of Company Sales in 2009

The owners are starting to derive at more reasonable prices for their companies.
It is widely expected that we witness a firesale of inefficient companies in 2009 according to the projections of several experts and advisors. On one side, it will mean that most holding companies will divest from their low-income businesses. On the other side, it will mean that large multinational having difficulties will try to sell some of their businesses around the world.

Read more

All the projects developed by the Forem consultants by the end of the first half-year were approved and financed by the responsible authorities

After the successful work on the pre-accession instruments, at the beginning of year 2008, the team of EU Projects Unit at Forem Consulting Bulgaria succeeded for its first project to be financed under the Structural Funds, Operational Program “Human resources development”, namely the first operational program, which started in Bulgaria.

Read more

Forem supports the development of the civil society structures

Forem Consulting, EU Projects Unit, provides specialized consultancy services for NGOs. In the beginning of August 2008 the first contract for financing a NGO project was signed with the Regional association of the business and NGOs at the Southwest region Dobarsko.

Read more

Forem EU Project Unit – good partner for the banks

During the first few months of working on released requests for submission of projects under the Structural funds, Forem Consulting established successful partnerships with Bulgarian banks, which have specific interest in supporting clients in their application for projects, financed under the Operational Program “Competitiveness” and the Program for development of the rural regions.

Read more

“Kraft” acquired 72 percent of “Cadbury”
04.02.2010

The U.S. food group “Kraft Foods” acquired 72% of the shares in the the British candies producer “Cadbury”, announced the U.S. company. According to the information submitted by the company, “Cadbury” agreed to sell 72% of their capital for the proposed by Kraft price, assessing the british company to approximately 12bln. pounds.

Read more

“Mobiltel” bought “M-Sviat” chain stores
03.12.2009

The mobile operator Mobiltel is the new owner of the brand “M-Sviat” and of 20 stores from the chain, announced the two parties. The price of the deal was not announced. The stores which the company will manage are located at places where M-tel stores are insufficient number or totally absent.

Read more

Spectrum Net acquires Orbitel for ?5 mln.
17.11.2009

‘Spectrum Net’ is going to acquire the rival Orbitel from its present owner Magyar Telecom., announced both parties in the deal, which is estimated to ? 5 mln. Magyar Telecom made a decision to withdraw its business from the Bulgarian telecommunicaiton market and to focus on other markets with better perspectives.

Read more

Equest sells its shares in the project for Serdika cinema for 7.34 mln euro
12.11.2009

The investment group Equest continues to sell its assets in Bulgaria. Its subsibsidiary Equest Balkan Properties ( EBP) signed a contract for the sale of its controlling interest in the project for the former Serdica cinema, says an announcement by the London stock exchange from Nov 10.

Read more

InBev sold its CEE business to CVC Capital Partners for $2.2 bln
16.10.2009

Anheuser-Busch InBev agreed to sell its breweries in 9 CEE countries to CVC Capital Partners for $ 2.2 bln. CVC will pay $1.618 bln in cash and $448 mln. in bonds with maturity in 6 years and interest between 8 and 15 percent. The deal is expected to be finalized by January 2010. InBev reserves its right to be the first to make an offer for buy back of the breweries if CVC decides to sell them.

Read more

The biggest IPO in Europe for 2009 expected in November
07.10.2009

Aviva, Britain's second-biggest insurer, said on Monday it expects to complete the planned stock market flotation of its Dutch unit, Delta Lloyd, in November.Aviva, which announced its intention to float the business in August, plans to sell a minority ( at least 30 per cent) of its 92 percent stake in Delta Lloyd on Euronext's Amsterdam exchange next month, it said in a statement.

Read more

Advent International is the new majority owner of Devin
24.09.2009

Devin, the biggest water bottling company in Bulgaria, has a new owner. It is Advent International, the private equity fund which signed a contract for purchase of the majority shares of Devin earlier this week. Advent bought 75.3 per cent of the shares from their previous owner – the Austrian company Soravia.

Read more

Bulgaria offers the lowest tax and social insurance rates for individuals
27.08.2009

Bulgaria remains a leader in the sphere of individual income taxes with the lowest tax rate of 10% in the EU. This is the conclusion from a survey lead by the consultancy and audit company KPMG International. It was taken in 86 countries and according to the experts from KPMG Bulgaria takes the first place among the EU memebers also in terms of the lowest social insurance rates for the individuals. This combination of low tax and social insurance rates make Bulgaria attractive country for individuals as well as for employers and potential investors.

Read more

Deutsche Bank seeks minority stake in Sal. Oppenheim
06.08.2009

Deutsche Bank , Germany’s largest lender, is in talks to buy a minority stake in Sal Oppenheim, one of Europe’s best-known private banks, in a deal designed to strengthen its business with affluent German clients. Both Germany’s biggest bank and Luxembourg-based Sal Oppenheim confirmed a German press report about the deal talks.

Read more

Porsche SE and Volkswagen AG planning a joint-venture company
24.07.2009

The German car-maker Porsche announced plans to increase its capital with more than ? 5 bln aiming to establish a joint-venture company with Volkswagen. Тhe decision was made at an extraordinary meeting of the Supervisory board, informed the speaker of Porsche without giving further details.

Read more

Aviva sells its Australian business to National Australia Bank
22.06.2009

The insurance company Aviva announced plans to sell its Australian insurance business to National Australia Bank for the sum of A$925m (£450m). People close to Aviva informed that the deal is object of check-up by the regulatory bodies and will be finalized by the third quarter of 2009.

Read more

Equest sold shares in Uniqa for ? 15 mln
05.06.2009

“Equest Investments Balkans” (EIB) sold some of its shares in the insurance company “Uniqa Bulgaria” for ? 15.2 mln , announced from the investment fund after signing the agreement. Buyer of the shares is the majority stockholder in the company Uniqa International Beteiligungs-Verwaltungs, which now owns 83.5 % of the capital. Equest still keeps 16.5% shares in Uniqa Bulgaria but Georgi Krumov, Managing director of the fund, explained that they plan to sell the rest of the shares by the end of the year.

Read more