Fairfax I.S. PLC (“Fairfax”) is advising Bulgarian Property Development PLC (“BPD”) on the unsolicited approach for BPD from Windsorville Investments Limited (“Windsorville”). Following the announcement by Windsorville that it had acquired a stake of approximately 25% of BPD, Fairfax was appointed as financial adviser and Broker to BPD to advise the board of BPD on the merits of any proposal and its compliance with rules of the Takeover Code. Fairfax co-ordinated with BPD’s other financial advisers in ensuring a formal presentation was made to the board of BPD which allowed the board of BPD to conclude that if an offer was made at the indicated level then it would be unanimously rejected by the board of BPD.

Fairfax has had a long standing relationship with BPD having raised two separate tranches of equity finance to achieve its business plan. As such Fairfax was uniquely placed to support BPD with its knowledge of both the company and its shareholders.