Ex-Twitter Executives Sue Elon Musk for $128M in Severance
Elon Musk, after acquiring Twitter for $44 billion in 2022, dismissed several top executives, including Parag Agrawal, Ned Segal, Vijaya Gadde, and Sean Edgett
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Citi Venture Capital International (CVCI) and NBGI Private Equity (NBGI) have signed an agreement for the acquistion of Bulgarian confectionary company Prestige 96 OOD, a leader on the local market.
Prestige's existing shareholders will retain a minority stake, the company said.
The deal price was not disclosed, but analysts have commented that the Bulgarian company assets are worth EUR 30-40 M.
The sale is expected to be concluded in a month after it receives green light from the anti-trust watchdog.
"This buy-out is very much part of CVCI's strategy of backing the consumer in emerging markets. It highlights our continued commitment to high quality businesses with strong market positions serving the consumer in Emerging Europe," Sunil Nair, CVCI managing partner and region head for Europe, commented.
Prestige 96 was established in 1996 in Veliko Tarnovo. It focuses on the biscuits and wafers segments of the market with a share betwen 30-50%, according to unofficial information.
Its most popular brands include Troy, Naya, Mirage, Prestige, Trayana and Roden Krai.
This will be CVCI's third transaction in Bulgaria after the buyout of mobile telecom operator Mobiltel in 2002 and the investment into animal health company Huvepharma in 2010.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In order to protect the economic interests of consumers, there will be a period of double labeling of the prices of goods and services - in leva and in euros
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
Svetoslav Stanulov, chairman of the Association of Bulgarian Airlines (ABA), has emphasized the need to assess Sofia Airport's potential as a hub for transit and transfer flights
Pegasus Airlines is set to recommence its scheduled flights between Sofia and Istanbul, marking a significant milestone in air travel connectivity between Bulgaria and Turkey
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022