Borealis and First Energy Bank acquire 20.3% of Neochim AD
03-Jan-2014
- Austria
Borealis together with First Energy Bank of Bahrain, announced that they have formed a joint venture in Bulgaria called FEBORAN AD. FEBORAN purchased 20.3% of the shares of Neochim AD, a company listed on the Sofia stock exchange.
“This investment is again in line with our strategy to grow our fertilizer business and to maintain our number one position in Central and Eastern Europe”, says Mark Garrett, Borealis Chief Executive. “First Energy Bank is a co-investor with sound financial credentials. This cooperation allows us to further strengthen our position in the growing Bulgarian market at a time when Borealis is investing into the integration of the recent acquisition GPN SA, now renamed Borealis Chimie SAS, in France.”
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