BULGARIA: Three Bulgartabac Leaf Plants to be Auctioned 20 January

Source from:  tobaccojournal.com 01/07/2005

The public tender for Bulgartabac Holding's three tobacco processing plants based in Dulovo, Dupnitsa and Isperih is scheduled for 20 January, reports Sofia Morning News. Morgan Stanley and Freshfields Bruckhaus Deringer will be financial and legal consultants of the privatisation deal. Potential buyers are to be approved by the government's privatisation agency and will be allowed to bid for one or more companies after they place a one-off deposit of BGN 20,000 (Euro 13,700). The auctioned company will set the initial price and the increment. Initially Bulgarian government tried to sell off Bulgartabac's leaf processing plants grouped in two pools, but failed to attract bids. Buyers have been picked only for facilities in Parvomai and Topolovgrad so far. Enditem