Project Description

Sell-Side Transaction Advisory Services to Advance Properties on its Sale of a Significant Interest in BMF Port Burgas

2022

Project Description

Off the back of a decade of continuous growth, infrastructure development and profitability, Advance Properties successfully sold a significant interest in BMF Port Burgas to the Three Seas Initiative Investment Fund. The Three Seas Initiative Investment Fund is a commercial fund mandated with investing in infrastructure across Central and Eastern Europe. Advance Properties retained a majority interest.

BMF Port Burgas is the private, multipurpose terminal operator of Port Terminal Burgas East II and Port Terminal Burgas West. Situated in the Burgas Bay in Bulgaria, along the Black Sea Coast, the Port handles general cargo, containers, dry bulk, liquid bulk and project cargo. Combined, the two adjacent terminals feature 15 berths and five piers with a total quay length of 3,334 meters. BMF Port Burgas operates these terminals under two long-term concession agreements with Bulgaria’s Ministry of Transport and Communications. In 2021, the Port handled around 7 million tons of cargo.

MTBS M&A, as exclusive transaction and financial advisor, supported Advance Properties and BMF Port Burgas throughout the entire transaction process. Following a market sounding phase, MTBS M&A ran a successful, formal sell-side process on behalf of Advance Properties leading to final transaction negotiations with 3SIIF.

Advance Properties is one of the largest private companies in Bulgaria and has a diverse portfolio of investments in, inter alia, the pharmaceutical, shipping, port operations and real estate sectors.

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