History in Numbers and Dates

The Beginning

Synergon Holding is a public limited company (plc), founded on 25 September 1996 as a national privatization fund, with the objective to participate in the mass privatization program. Over 250,000 Bulgarian citizens then entrusted their investment bonds to Petrol Fund. With a capital of 5,558,685,000 Leva (five billion five hundred fifty-eight million six hundred eighty-five thousand Leva) at its foundation, Petrol Fund became the leader among the 81 privatization funds, founded at that time.

The Company was registered by Sofia City Court under the name of Petrol Fund plc on 13 November 1996, through case No. 13144/1996. Petrol Fund successfully participated in the three auctions and with a fixed capital of 5,692,706,000 investment Leva bought 3,677,599 shares in 65 companies. The three economic branches that were predominant in the package were: Trade - 31.61%, Chemical and Petrochemical industry - 24.12%, and Tourism - 15.14%.

The portfolio was so diversified that it effectively guaranteed against risks in macro-environment changes or economic branch crises.

The Transformation

The results of the three auctions in the first stage of the mass privatization (1996-1997) have shown that the best way to re-organize the fund in compliance with newly adopted Bulgarian legislation, which regulates the process of privatization, was to transform the fund into a holding group.

The General Meeting of the shareholders on 7 December 1997 changed the name from Petrol Fund to Petrol Holding Group, as well as the company's by-laws and the subject of its activity. These were entered in the Commercial Register Book of Sofia City Court under verdict No. 4 dated 13 January 1998, case No. 13144/1996.

In the period after the end of the so-called first wave of the mass privatization (1998-1999), the company was basically trading shares of the enterprises on the stock exchange in Bulgaria. A range of subsidiary companies was formed, where Petrol Holding Group had managing duties and determined their development strategy.

Since 29 June 1998 Petrol Holding Group shares - the first of former privatization fund shares existing in a holding group have been traded officially on the Sofia stock exchange.

The General shareholders’ meeting on February 27, 2002 approved the name Synergon Holding. The change in the name was registered by the Sofia City Court on March 5, 2002.


Synergon Holding today is a company, that has over 150,000 shareholders and with a fixed capital of 18,358,849 Leva is ranking among the largest holding groups in the country. The company has obtained a leading position in the Bulgarian investment market.

Synergon Holding includes enterprises from various economic fields, giving opportunities for inter-connected economic synergies, important for the reduction in production costs within the group of companies. Thus the Synergon Holding has made strategic investments in more than 20 subsidiary companies to date.