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Bulgaria rejects Plovdiv fair listing, equity hike

Date: 13.12.2007

Bulgaria's cabinet has rejected all proposals that would have changed the shareholding structure of the Plovdiv international fair, it emerged on Tuesday.

The government had reviewed three options, including one that would allow it to keep control of the fair, in which it owns 51%, by subscribing half of a EUR 100 M equity hike.

In the other two scenarios it would have lost control of the fair, either by allowing the other shareholder, Paldin Tour Invest, subscribe the full EUR 100 M equity hike, or by allowing up to 10% from its stake to be listed on a stock exchange.

But the cabinet has rejected all three proposals, it emerged at Tuesday's shareholder meeting.

Businessman Georgi Gergov, together with the Plovdiv city hall, are the sole shareholders in Paldin Tour Invest.

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