German-Bulgarian consortium KG Maritime Shipping, the sole entity authorised to proceed in the privatisation of Navigation Maritime Bulgare (NMB), filed November 7 2007 a preliminary offer, said Kiril Domuschiev, a co-owner in Advance Properties, a 30 per cent stakeholder in KG Maritime Shipping.

The remainder of the shares are with KG Maritime Shipping Partners, itself a consortium between German chartered ship operator Martrade Shipping & Transport and the Indian ship manager, Accord Ship Manager.

The consortium filed the preliminary offer with the Privatisation Agency (PA) a day before the deadline.

Domuschiev said that the offer contained a price range, yet he refrained from pointing to specific figures. He added that the bidder would calculate a final price once it conducts due diligence into NMB.
The PA was expected to announce what the forthcoming steps in the privatisation procedure would be, as well as the deadline for completion of negotiations and the preparation of a final offer.

The same day, in Varna, Prime Minister Sergei Stanishev said that the NMB development would be the leading criterion in the choice of a buyer.
He added that for the first time since NMB has been on the trading lot, the state had a clear vision on requirements toward the buyer.
NMB ended the first nine months of 2007 with a 62 per cent year-on-year increase in net profit, Transport Minister Petar Mutafchiev said.