FOREIGN INVESTORS EYE DEBT-RIDDEN VIDACHIM

Business | February 25, 2002, Monday // 00:00

Italian and Russian investors have shown interest in acquiring bankrupt rubber producer Vidachim, given that the state writes off the company’s debt, Privatization Agency announced. Italy’s Marangoni and Russia’s Tetraneft are two of the investors, the names of the other two were not disclosed. Marangoni refrained from bidding in the previous sell-off because of the Vidin-based plant’s debts. No decision on remitting the plant’s debt has yet been taken by the PA and the Ministry. Vidachim’s debt stands at BGN 49,7 M, half of it is owed to the state, the remainder – to other creditors, including Raiffeisenbank Bulgaria and private Roseximbank.
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