Wednesday, May 30th, 2007
Bulgarian Albena to sell White Lagoon resort by the end of August
Local tourism company Albena said it will sell its , on the Black Sea, by the end of August. The company is in talks with a foreign strategic investor who has already invested in North-eastern Bulgaria and is here for the long run, said Albena manager Krasimir Stanev withholding the name of the candidate buyer.
A further two foreign buyers are also reportedly interested in White Lagoon but the said investor will have exclusivity through August. Albena intended to add a golf course to the White Lagoon but a number of similar projects are already in progress in the area, said Stanev. The resort would require an investment of 50 mln to 100 mln levs, a resource that Albena cannot afford over the near term, said Stanev.
White Lagoon was listed on the Bulgarian bourse in March this year. The resort, located near Balchik, consists of 2 hotels with a total bed capacity of 79 double rooms.
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