Today, May 16, 2011, the investment company Clever Synergies Investment Fund (CSIF) J.S.C. and the Allied Irish Bank (AIB) signed a purchase contract for 49.99% of the shares of Bulgarian American Credit Bank (BACB). The contract will enter into vigor after receiving the approval of the Bulgarian National Bank and the Commission for the Protection of Competition, according to the requirements of the Bulgarian law.
BACB is a public company, listed on the Bulgarian Stock Exchange, and by December 31, 2010, its assets amount to € 375.9 million.
CSIF is a private investment company founded in 2005. Its main shareholders are Tzvetelina Borislavova and her foundation Credo Bonum. At the beginning of 2011 the fund has a registered capital more than BGN 72 million and assets amounting to BGN 500 million. CSIF invests mainly in the domain of renewable energy sources, in tourism, agriculture and innovations.
The intention of CSIF is to develop the technological potential of the bank, to restructure its credit portfolio and to attract new corporate clients. According to Tzvetelina Borislavova, owner of CSIF, the bank is innovative and dynamic, has a highly qualified team and a good targeting.
"I am happy that we succeeded to reach an agreement with Allied Irish Bank and I am sure that BACB will contribute for the successful implementation of a lot of new ecological projects.", Borislavova said.