Israeli Billionaire Eyes Refinery in Bulgaria - Report

Business | October 17, 2007, Wednesday // 00:00
Bulgaria: Israeli Billionaire Eyes Refinery in Bulgaria - Report Russia-born Israeli billionaire Arcadi Gaydamak is planning the acquisition of a biodiesel production refinery in Bulgaria, according to reports. Photo by www.somethingisraeli.com

Russia-born Israeli billionaire Arcadi Gaydamak is holding talks for the acquisition of a biodiesel production refinery in Bulgaria, which is being constructed through his Tel Aviv-listed company Petro Group, the online edition of Israeli Haaretz reported.

Recent talks that Petro Group held to buy 110 gas stations with convenience stores in the United States in a USD 60 M deal fell through, the report said.

The Bulgarian deal would be smaller in scope. The initial investment of the Israeli businessman set close to EUR 15 M.

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