Bulgarian businessman Hristo Kovachki, owner of several mines, power plants, shop chains and a number of other businesses, founded his own party on Friday on the eve of the local elections.

The new party, called Leader, which is an acronym of Liberal Initiative for Democratic European Development, was founded in the town of Samokov.

The members of the freshly minted formation are mainly owners of companies dealing with energy, food and drinks, transport and construction.

Hristo Kovachki himself will be part of the party's leadership. CEO of Brikel Kancho Filipov will head it instead. His deputy will be Angel Angelov from Cherno More Mines.

Maritza 3 Dimitrovgrad thermal plant managers, owned by Kovachki, Danfos Company heads and directors of Aron and Euromarket are among the founders.

The party will compile a list of candidates for the mayoral elections in October within weeks. Thos will be people with high public profile, who have already proven their potential in the public and business life and have demonstrated their abilities as good company managers, Kovashki said.

Such parties have already been founded in Varna, Burgas, Nesebar and Haskovo.

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