Michailides Linked to Bulgarian Plant

Source from:  tobaccoreporter.com Bulgaria, Tuesday, January 23, 2007 01/25/2007

Leaf Tobacco A. Michailides is offering Lev2.3 million for Bulgartabac's processing plant, Sandanski BT, according to a news.dnevnik.bg report quoting the Bulgarian monopoly. The report said that Bulgartabac was selling 99.946% of Sandanski BT for a minimum of Lev2.1 million in a process for which the bid deadline had been January 17. The submitted bids, it said, would be examined solely on their prices. Vladimir Karolev, of the consortium hired to advise the privatization of Bulgartabac, was quoted as naming Smolyan BT and Kardjali BT as the next two subsidiaries that would be put up for sale. Bulgartabac was said to have so far sold subsidiaries in Plovdiv (J.G. BT for Lev27.6 million) and Pazardjik (Pazardjik BT for Lev4.72 million). Enditem