Bulgaria Tobacco Monopoly Sells Closed Plants on Sofia Stock Exchange

Source from:  novinite.com 19 May 2008 05/20/2008

The Supervisory Council of Bulgaria's cigarette monopoly Bulgartabac Holding decided Monday to sell its two plants in the southern cities of Plovdiv and Stara Zagora at the Sofia Stock Exchange. The state-owned company decide at the beginning of 2008 to restructure by closing down the two factories and concentrating all of its production operations in its other two plans located in Sofia and Blagoevgrad. The Plovdiv and Stara Zagora plants will be offered for sale together with their unlimited permits for the production of tobacco products but without licenses for specific cigarette brand but without licenses for specific cigarette brands. The concrete characteristics of the sale, i.e. the minimum prices of the shares on sale, and the exact dates, will be determined in the beginning of June. The company management announced that in order to guarantee the maximum transparency of the sale process, it would organize a virtual information hall with subsections for the different plants. The po