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The President of the World Chess Federation and ex-president of Republic of Kalmykia Kirsan Ilyumzhinov has bought a 52.5% stake in Bulgaria’s largest fuel company Petrol Holding

Kirsan Ilyumzhinov The President of the World Chess Federation and ex-president of Russia’s Republic of Kalmykia, Kirsan Ilyumzhinov has bought a 52.5% stake in Bulgaria’s largest fuel company Petrol Holding.

Swiss-based Credit Mediterranee owned by Kirsan Ilyumzhinov bought the 47.5% stake owned by Denis Ershov and the 5% stake owned by Alexander Melnik, Vedomosti Daily reports. Ilyumzhinov plans to buy 100% of Petrol and is currently engaged in negotiations with another shareholder Mitko Sabev, who holds a 47.5% stake.

The cost of the deal has Read the rest of this entry »

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