The Bulyard consortium, which won the tender for acquiring 75% of Bulgaria's Varna shipyard equity, and Navigation Maritime Bulgare signed the contact for the setting up of a joint venture with Varna shipyard assets. Earlier in the month it was announced that the Bulyard consortium will transfer USD 1 M in advance to Navigation Marine Bulgare. Bulyard consortium, one of the two companies, which advanced in the sale procedure offered the highest price in the tender for Varna shipyard assets. The sweetened bid of the company stands at USD 16.666 M, improving its offer by USD 2.333 M.