Tobacco Factories to be Privatised

Source from:  worldtobacco.co.uk 30 May 2008 06/04/2008

The privatisation of tobacco factories in Plovdiv and Stara Zagora through the Stock Exchange was expected to take place this July, which is the deadline for the Supervising Board of "Bulgartabac Holding" to approve the entire documentation for the procedure. This was announced in front of Darik radio by Vladimir Karolev, Co-Manager of the Balkan consulting company, which is preparing the full set of documents. Mr Karolev expects a huge interest on the part of the investors. "Three teams are working on the main documents such as legal analysis, evaluation and memorandum. The deadline is until mid July. At the same time, we are organising an information portal over the Internet where each potential investor would be able to get acquainted with the memorandum and other documentation. "The portal will become available as soon as the selling strategy is approved. Until now it is known that it would be through the Stock Exchange, however there are different options. One of them is for all shares of the two companies to be sold in one lot. The other one is for one lot in a majority package and others in individual lots. We are most likely to propose the strategy where the shares in Plovdiv would be sold in one lot and the shares in Stara Zagora in another, but this must be approved by the Supervising Board," Mr Karolev said. Enditem