Tsarukian purchases Gorna Banya
Chairman of the Prosperous Armenia Party (BHK) and Armenian businessman Gagik Tsarukian has purchased the Bulgarian water bottling company Gorna Banya for €25mln, Bulgaria's Sofia Echo and Novinite News Agency report.
During a conversation to Azatutiun Radio Station, Tsarukyan's Spokesman Khachik Galstian confirmed the rumours about the bargain.
About 20 million euro of the amount will be channeled to debt payments.The company owes 12 million euro in long-term banking loans and a further four million euro in short-term funding. It should pay a separate sum of about €3.5m to a UK investment fund.
The new owners of the company are Gagik Tsarukian and his spouse Javahir. Zaven Asaturov has been appointed company manager.
Gorna Banya Bottling Company holds 25-year concessions for three mineral springs in the Sofia neighborhood of the same name whose term will be extended to 35 years with the contract updates being implemented by the environmental ministry.
