Bulgaria Prosecutors to Probe Plovdiv Fair Ownership

Business | June 17, 2010, Thursday // 20:04|  views

Bulgaria’s Economy and Energy Minister Traicho Traikov (R) is pictured here with International Plovdiv Fair majority owner Georgi Gergov. Photo by BGNES

Bulgaria’s prosecutor’s office will make yet another attempt to probe the mechanisms that distributed stake ownership in the International Plovdiv Fair as the state is trying to get back its control.

Currently 50.3% of the shares of the International Plovdiv Fair are owned by the “Puldin Tournvest” company whose majority share package belongs to businessman, Georgi Gergov. The State has 49.6% while the remaining 0.01% belong to several individuals.

The subject of the prosecutors’ check now will be “Puldin Tourinvest”company.

The magistrates will investigate municipal officials, who made possible the reduction of the state stake in the company, the prosecutor’s office announced.

“I see nothing wrong with this check, it is high time that the name of the fair is cleared,“ Georgi Gergov commented for Dnevnik daily. He confirmed that this is not the first check of the magistrates.

“What they have been trying to do so far is see how the state agreed to the reduction of its stake. It is only natural that they make a check in the municipality as well, “ Gergov said.

Gergov acquired the majority share package of the company, which was not slated for privatization, in 2008 by purchasing them from restitution owners.

Soon after the cabinet of his Citizens for European Development of Bulgaria (GERB) party came into power, Economy and Energy Minister Traicho Traikov declared he would return the ownership of the Plovdiv Fair back to the State. The first idea was to increase the capital, but the move could not be carried out without the agreement of “Puldin Tourinvest.

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Tags: International Plovdiv Fair, Georgi Gergov, Traicho Traikov


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