Fri, Feb 10 2012

Equest continues to dispose assets in Bulgaria

Fri, Jun 12 2009 13:24 CET

byNick Iliev

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Equest continues to dispose assets in Bulgaria

Photo: Nadezdha Chipeva

Equest Partners, headquartered in London, an investment management and advisory company, continues to offload its assets in Bulgaria, according to a report from the London Stock Exchange.

Equest Investment Balkans has sold its shares in the Boyana Park residential development complex in Sofia, where the company had a 30 percent share of the total project. The deal is estimated to be 600 000 euro. The name of the buyer has not been disclosed.

Furthermore, Equest has shed assets in Romania for another 800 000 euros.

The company has also confirmed its intention to sell additional assets in Bulgaria. Negotiations have commenced on property disposals including Rodacar, the 12 300 sq m retail warehouse property in Varna, and the mixed use Serdika project, in the centre of Sofia.

Recently, Equest also released its 21.2 per cent share in the Bulgarian branch of the financial firm Uniqa International, as well as Avto Union.

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Fire sale

Once the busiest private equity investor in Bulgaria, Equest has sold off most of its assets

Equest to shed more Bulgarian assets

Private equity investor plans to focus on two key projects - the Technomarket retail chain and the SuperBorovets real estate development

Equest Balkan Properties posts 9.5M euro H1 loss

Real estate developer Equest Balkan Properties has recorded a loss of 9.5 million euro before-tax loss in the first half of 2008, compared to a 9.7 million profit recorded in the first six months of last eyar, on the back of rising finance costs, operating and administrative expenses, as well as falling valuations of its assets, the company said in a statement filed with the London Stock Exchange, where it is listed on the alternative investment market.

Equest plans asset sell-offs to boost liquidity

Investment fund Equest Investment Balkans (EIB), which is listed on the alternative segment of the London Stock Exchange, plans to sell out assets to buy back shares and boost liquidity under a new strategy outlined in its first-half financial report. The report did not specify which assets, but said that the company would narrow its real estate portfolio, estimated by consultants CB Richard Ellis at 78.8 million euro

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