Chartworld Shipping emerges as potential buyer of Navibulgar

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

28 Sep 2007

Lou Kollakis has proven himself during the course of this year as a rather active investor in the market, opting for direct ship acquisitions. This was proved once more, since Chartworld Shipping Corporation has been selected as one of the three eligible candidates to acquire Navigation Maritime Bulgare (NMB), the state-controlled Bulgarian shipping company, which is up for sale. Despite the fact that almost 20 companies, banks and funds declared their interest in attaining the tendering award's papers, only three actually expressed their interest, by filing the necessary paperwork to participate in the first stage of the process, which shall award the winner with a 70% stake in the shipping company (7,631,460 stocks).Besides, Chartworld Shipping, KG Maritime Shipping and India's Essar Shipping are also participating in the process. The first offerings for NMB will be submitted on the 8th of November, according to the schedule released by Bulgaria's Privatization Agency.