Germany's Quarzwerke Group to acquire majority stake in Bulgaria's Kaolin

By bne IntelliNews May 28, 2013

Germany's Quarzwerke Group will acquire by the end of the week 67% of local mineral extracting company Kaolin at a price of BGN 4.1 (EUR 2) per share, Capital daily reported on May 28. Quarzwerke Group, whose main field of business is the extraction, processing and refining of industrial minerals, will buy the stake from local investment fund Alpha Finance Holding. A  preliminary acquisition agreement was signed in December 2012. Earlier in 2013, Quarzwerke Group was given permission by the Bulgarian competition watchdog to close the deal.

Kaolin (BSE: 6K1) is one of the most liquid companies trading on the Bulgarian stock exchange. It is included in the two major local stock market indices - SOFIX and BG40.

The company's Q1 2013 net profit declined 5.5% y/y to BGN 2.3mn. Kaolin ended 2012 with a net loss of BGN 14.3mn. The company exploits more than 40 fields and 18 production units in SEE countries. According to earlier reports Kaolin considers expanding its production capacities in Ukraine.

Related Articles

Bulgarian prosecutors file indictment against defence minister

The Sofia city prosecutor’s office filed indictment with Sofia city court against outgoing Defence Minister Nikolay Nenchev over his alleged failure to ensure aviation safety and the ... more

Bulgaria’s former justice minister launches anti-corruption party

Bulgaria’s former Justice Minister Hristo Ivanov will lead the newly formed Yes Bulgaria party as it prepares to compete in the upcoming general election on an anti-corruption platform.  ... more

Belgium’s KBC buys United Bulgarian Bank and Interlease for €610mn

Belgian-based KBC Group said on December 30 that it is acquiring United Bulgarian Bank (UBB) and Bulgarian leasing ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss