Chimimport AD (Bulgaria)

Chimimport was established in April 1947 as a state owned foreign trade company. In 1994, it became the first state-owned company in the country to be privatised by a management-employee buyout.
Chimimport Invest purchased a 58.7% stake in the communist foreign trade giant for USD 7.05 million. The buyout company later raised its stake to 63% by purchasing preferential shares from employees. In September 2000, British Virgin Islands-registered Fertitron Inc., controlled by Varna-based industrial group TIM, purchased 68% of Chimimport from Chimimport Invest in exchange for covering a EUR 1.25 million bank debt and other company liabilities. As of end-2005, Chimimport owned stakes in 37 enterprises from the financial, transport, trade and manufacturing sectors. In June 2006, Bulgarian government approved the sale of its 70% stake in Bulgarian River Shipping company (BRS) to Chimimport for EUR 11.2 million. In September, the industrial conglomerate floated shares worth around EUR 22.6 million in an initial public offering (IPO) on the Bulgarian Stock Exchange. Chimimport acquired 85% of the DZI's air carrier company - Air Ban, through its subsidiary Bulgarian Aviation Group. The deal was settled in December 2008 at unknown price. Over 2009-2011 the industrial group acquired stakes in local Zarneni Hrani Bulgaria, Oil and Gas Exploration and Production, Galata Investment Company, Russian Tatinvestbank and others.
Тhe Chimiport group comprises companies active in the following industries: finance and insurance, pension insurance, production of oil and gas, production and trading with petroleum products, buying up, processing and trading with grain and oilseed oils, trading with chemicals and fertilizers, aviation transport and ground activities related to aircraft maintenance and repairs, river transport, maritime transport.