It paid the starting price of BGN 47.5m($33.5m) for the core assets of the Black Sea plant, local media said.

The assets were put up for sale in March infour separate tenders.

FIB, as the yard’s main creditor, hadinitiated the sale, according to the Capital Daily newspaper.

Bourgas owes FIB EUR 30m ($41.52m), whichwill be offset against the purchase price.

After laying off workers, yard managementsaid earlier this year it would remain operational after re-registering undernew name Barabel.

Bulgarian