Vienna/Sofia - Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, together with First Energy Bank of Bahrain, formed a joint venture in Bulgaria on 21 December called FEBORAN AD. On the same day, FEBORAN in turn purchased 20.3% of the shares of Neochim AD, a company listed on the Sofia stock exchange. Raiffeisen Centrobank (RCB) acted as exclusive buy-side advisor to Borealis and First Energy Bank in this transaction.
"We are pleased to have the experienced and motivated M&A team of RCB in Vienna and Sofia, in cooperation with the brokerage team of Raiffeisen Bank Bulgaria, as exclusive advisor to support us in this transaction. Their deal expertise in connection with outstanding local know-how were a key factor when it came to finalize this strategic initiative", acknowledges Simon Jones, Vice-President Business Development at Borealis.
“This investment extends our investment portfolio both geographically into Europe and into a fast-growing market. Thus it was essential for us to have the combination of Borealis and RCB's support in concluding this important step”, adds Tarun Puri, Head of Investment Management, First Energy Bank.
Neochim is Bulgaria’s leading producer and distributor of fertilizers and accounts for a significant share of Bulgaria’s ammonium nitrate output. Neochim operates one ammonia plant, two nitric acid plants and an ammonium nitrate plant in Dimitrovgrad in southern Bulgaria. After the sale of the largest Bulgarian digital media Netinfo to MTG and Darik News, this transaction marks another milestone transaction in Bulgaria for RCB in 2013.
For further information please contact:
Andrea Pelinka-Kinz
Phone: + 43 (0) 1 515 20-614
E-mail: pelinka-kinz(at)rcb.at
About Raiffeisen Centrobank
Raiffeisen Centrobank is a leading Austrian investment bank. Jointly with its Raiffeisen Investment subsidiaries, it acts as a leading Mergers & Acquisitions (M&A) advisor in Central Eastern Europe and Turkey. The core fields of business besides M&A are Equity Capital Markets (ECM), Privatisations, Structured Transactions, Private Placements and Merchant Banking. This is done by giving impartial advice and by combining top-level industry sector expertise of Raiffeisen Centrobank (Consumer Goods, Agro & Retail, Energy/Utilities, Financial Sponsors, Industrials, Life Sciences, Telecoms Media Technology) with local know-how through the Raiffeisen Investment network. Raiffeisen Centrobank is a 100% subsidiary of Raiffeisen Bank International AG.
