First Investment Bank News

German Investor Eyes Burgas Shipyards

First Investment Bank, the main creditor of the Burgas Shipyards AD, has expressed interest in handing over management of the company to a German investor. Radoslav Valchev, a representative of the Bulgarian office of the German company, explained Friday in an interview for the Bulgarian National Radio (BNR) that the company had prepared a rehabilitation plan for the factory. The fate of the Burgas Shipyards AD is to be decided next Wednesday. Valchev noted that in the case of a decision to hand over the management of the Burgas Shipyards to the German investor, the public tender for the sale of its property would be stopped and the laid-off staff would be reappointed.