Ledenika Brewery in Northwestern Bulgaria Bought by Grisha Ganchev

Business | August 8, 2013, Thursday // 12:49
Bulgaria: Ledenika Brewery in Northwestern Bulgaria Bought by Grisha Ganchev Bulgarian businessman Grisha Ganchev is the new owner of the Ledenika brewery in the northwestern town of Mezdra. Photo by BGNES

The Litex company of Lovech-based businessman Grisha Ganchev has bought the bankrupt Ledenika brewery in the northwestern Bulgarian town of Mezdra in a deal worth BGN 12-13 M.

The negotiations have been concluded successfully and the sale has been finalized, according to reports f the BGNES news agency.

The new owner is expected to invest no less than BGN 10 M in the technological equipment in the brewery.

By March-2014, the first bottles of Ledenika beer are expected to be on sale.

The brewing plant will have a staff of around 300.

Prior to the bankruptcy, the brewery had around 700 employees.

The Ledenika brewery was owned by Mihail Mihov, also known as Misho Beer, who died in March 2011.

Mihov's name made headlines in January 2011 in connection with the so-called Tapegate scandal.

In early January 2011, the Galeria weekly released three tapes of discrediting conversations between then-Prime Minister Boyko Borisov, then-Customs Agency head Vanyo Tanov, then-Finance Minister Simeon Djankov, and then-Deputy Finance Minister Vladislav Goranov.

In one of the conversations Borisov was heard ordering Tanov to immediately pull out customs inspectors out of the "Ledenika" brewery owned by Mihail Mihov because he had promised the businessman not to bother him.

Borisov argued in Parliament that his call about Mihov had been ordered by former President Georgi Parvanov.

The businessman was later found dead in a hotel room in Pravets on March 30, 2011 after suffering a heart attack.

Mihov's wife, Eva Mihova, died on May 2, 2012.

Due to unsettled debts of around BGN 6 M, the entire property of the brewery was distained.

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Tags: Ledenika, brewery, Grisha Ganchev, Mihail Mihov, Tapegate, Boyko Borisov, Vanyo Tanov, Simeon Djankov, finance minister, Customs Agency, Prime Minister, bankrupt
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