Bulgaria’s Sofia Echo reports that Armenian businessmen Gagik and Djavair Tsarukyan have purchased the Bulgarian water bottling company "Gorna Banya" for almost 25 million Euros. About 20 million euro of the amount will be channeled to debt payments, Goranov said, noting that the company owes 12 million euro in long-term banking loans and a further four million euro in short-term funding. Gorna Banya generated total revenue of more than 36 million Bulgarian leva (Euro 18.4 million) for 2008. Gorna Banya is the entrepreneur’s first Bulgarian investment of Tsarukyan’s MultiGroup Concern . It will be managed by Zaven Asadurov, according to the trade registry. Asadurov was not immediately available for comment. Gorna Banya Bottling Company holds 25-year concessions for three mineral springs in the Sofia neighborhood of the same name whose term will be extended to 35 years with the contract updates being implemented by the environmental ministry.