Raiffeisen Real estate - Poperty in Bulgaria, Bulgarian properties for sale and rent, apartment, house, land and plots

Billa retail chain has acquired the former Iztok cinema theater in Sofia for cash considerations of EUR 1.43 mln, the seller, UK-based Trans Balkan Investments (TBIL) announced in a statement. The transaction was closed on June 30, 2010.

Trans Balkan Investments earlier said it had concluded a preliminary agreement to sell the Iztok Cinema on Tsarigradsko Shosse for EUR 1.8 mln.

TBIL has also signed an agreement to sell its Evropa Palace theater in Sofia, with completion scheduled for mid September 2010.

Pelican, one of TBIL's wholly owned property subsidiaries, is also in talks with potential buyers for the sale of its Urvich cinema, the one remaining former cinema site in the Sofia.

Further, TBIL is continuing negotiations with DSK Bank and its parent bank OTP in Budapest to complete its Banya Hotel and Spa project.