CEO of the country’s leading water bottling company Devin Tsvetan Lazhanski confirmed that the majority stakeholder, Austrian investment group Soravia Group, is considering a sell-out option of its share in the local producer. The statement followed an ISI DealWatch report on Wednesday that at least three buyout companies have filed bids for Devin as its Austrian owner, plagued by a souring real estate portfolio, is in dire need of cash. Soravia controls indirectly about 75% of Devin through subsidiaries and the remaining part is owned by local physical persons. The consolidated sales of Devin rose by 7.8% y/y to BGN 14.1mn (EUR 7.2mn) in Q1. Its loss narrowed by some 50% during the period due to investments in modernisation, which have raised the competitiveness of the company. Devin controls 30% of bottled-water sales in the country and less than 1% in Romania.