TBIL, the investment fund once known as Equest Investments Balkans, is selling off a former Sofia cinema called Europe Palace. The Sofia Echo reports that the price is €1.5m, adding that TBIL is still trying to get financing for a hotel and spa project in Banya.
The same paper reports that TBIL has retained control over the electronic retailer chain TechnomarketDomo after being granted a one-year loan deferral from the State General Reserve Fund (SGRF) of Oman. SGRT would otherwise have traded its debt for equity in the company. A deal had been on the table from minority shareholders in TechnomarketDomo, but this was scuppered by the loan deferral.
In return for the extension, TBIL has agreed to pay a fee of 8.5 million euro to SGRF as soon as it has the needed funds or in the event of offloading part or the entire stake in TMD, as well as 15 per cent of the net proceeds from the possible sale.
If the sale is for more than 45 million euro, Oman will get 30 per cent of the proceeds.