Investment company CSIF acquires Burgas Fish Port

Sofia-based private investment company Clever Synergies Investment Fund (CSIF) acquired port operator Fish Port in the Black Sea city of Burgas with all cold-storage facilities and other industrial facilities for processing and storage of fish.

The deal has already been finalized after negotiations continued for several months, seller Atlantic informed.

Fish Port handles 200,000 tonnes of cargo a year. It registered a revenue of BGN 2.2 million and a net profit of BGN 237,000 for 2012, Company Register data shows.

The plans of the investment company CSIF are associated with the development of infrastructure of the facility and creating new jobs in Burgas. The acquisition will complement the operations of CSIF's logistics company Despred, CSIF's owner, Tsvetelina Borislavova, told Capital daily earlier.

CSIFwas set up in 2005and holds assets in wind farm projects with a projected capacity of 250 MW, in mining equipment factory Monek Yug and also a number of hotels in ski resorts across Bulgaria. Borislavova, is the former owner of Bulgaria's CIBank.

Atlantic meanwhile started to construct Bulgaria's first market for fresh and frozen fish, its Executive Director Ivaylo Roussinov informed. The facility will meet all European and modern standards and will be also located in the territory of Burgas. The construction of the base is set to start soon.

Adapted from StandartNews