Albena and Albena Invest Holding merger entered in the Commercial Register (POSITIVE)

On November 1, the merger of Albena Invest Holding and Albena was officially entered in the Commercial Register. The merger of the two companies was approved by the shareholders in October. According to the merger contract, AIH would be taken over by Albena, while Albena Invest Holding would be dissolved without liquidation. In a separate announcement, Albena called another shareholders’ meeting to vote on deals that need an authorization by the shareholders. Details would be disclosed at the official publication of the meeting’s invitation, but one of the deals is for Albena entering as a co-debtor with its White Lagoon subsidiary in a EUR 13.7m investment loan contract with SG Expressbank. EUR 9m of the loan would be used to refinance existing loans from the same bank as well as trade financing, received from Thomas Cook, while EUR 4.7m would be spend for investment in 2016-2017.