Bourgas Shipyards Sold for 120 Mln Euro
Tuesday, 24 September 2013
An unnamed Turkish businessman has bought Bourgas Shipyards for 120 million euro ($162 million), local online media flagman.bg reported, quoting a source close to the deal.
The new owner is interested in Bourgas Shipyards’ land rather than in the company itself and will most likely demolish the buildings, according to flagman.bg.
The 70-hectare land plot which Bourgas Shipyards has occupied for over 50 years, is strategically located between the coastal city of Burgas and Foros, a residential and holiday complex project in development.
The land plot has been estimated at 226.2 million euro, according to flagman.bg.
The shipyards were privatised in 2000.