Novinite reported that an offshore company, registered on the British Virgin Islands, has acquired the buyer of Bulgaria's biggest steel mill Kremikovtzi amid many question marks surrounding the deal.

As per report, Bessian Management Limited bought Eltrade, owned by 26 year old Mr Lachezar Varnadzhiev for BGN 20 000.

Bessian Management Limited is in its turn controlled by another offshore company Bun Sekretarial Limited, based in Cyprus.

Bulgaria sold in April the production assets of bankrupt Kremikovtzi steel mill in a fourth auction to a newly established local company, owned by Mr Varnadzhiev. The deal was signed just a month after Eltrade company was established on March 8th 2011 with a capital of mere BGN 20 000.

(Sourced from novinite.com)