The privatisation agency will opt for a higher price offer by the sole bidder KG Maritime Shipping for 70% of the sea shipping company Navibulgare, Dnevnik Daily reads quoting undisclosed sources. The net asset value of Navibulgare indicates that the price offer for the 70% stake should exceed EUR 350mn. The agency reportedly sees the indicative bid of KG Maritime Shipping as “unexpectedly good” in terms of investment commitments. KG Maritime Shipping is set up by the German charter firm Маrtrade Shipping Transport (70%) and local Advance Properties (30%). Martrade is chartering more than 100 vessels while Advance Properties has not experience in the shipping business. It is expected to start financial audit of the fleet in near terms and to file a binding bid early next year. A total of 23 firms purchased tender documents but only three of them retained interest in the follow-up proceedings. Two of the potential candidates have failed to meet all tender requirements that has limited the competition to negotiations only with KG Maritime Shipping.