Investment Firm Buys Into Prista


A U.S. investment firm has bought a 25-percent stake in Bulgarian lubricant marketer Prista Oil AD. The transaction comes three months after Chevron Global Lubricants sold its 25-percent share of the company.

An official with Greenwich, Connecticut-based Gramercy Advisers confirmed yesterday that the investment firm had made the investment, but he declined to discuss the deal. According to news reports in Bulgaria, though, Sofia-based Prista announced the transaction after its shareholders appointed two Gramercy officials – Co-managing Partner Jay Johnston and Senior Vice President Jason Cook – to its board of directors. The reports said the amount of Gramercys investment was not disclosed.

Chevron said in July that it sold its stake after determining that the time had come for it and Prista to develop their own interests in the region. The American company acquired its stake through its 2001 merger with Texaco, which had bought into Prista the year before.

Chevron sold its interest to Marsdale International LLC. News agency Dnevnikindicated this week that Marsdale represents brothers Plamen and Atanas Bobokov, who head Prista.

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