NAVIBULGAR FINALIZES SHIPYARD ACQUISITION
Navigation Maritime Bulgare, the nationally owned Bulgarian shipping company, said it has acquired Verna shipyard, which has been in administration since January.
Navibulgar paid BGN 35.5 million (about $16.1 million) for the shipyard on April 8, acquiring assets of the yard. The transaction does not involve Navibulgar taking over any existing debts.
The Bulgarian company said it intends to complete work on vessels under construction at the yard, including two 9,000-deadweight-ton ships on order for Navibulgar.
The company said it has been contacted about possible new orders, and will undertake repair work on its and other owners' ships.