Shares Sold in Bulgarian Tobacco Plant

Source from:  Tobacco Reporter 11/24/2009

Mutual funds have bought 23.1 per cent of the capital of Bulgaria's Slantse Stara Zagora Tabac, according to a Novinite story quoting a Bulgarian Stock Exchange report on Friday. The four funds acquired 272,140 shares in the tobacco processing and cigarette making factory in the southern city of Stara Zagora, with the Real Finance Balance Fund and Real Finance High-Yield Fund obtaining 5.09 per cent of the capital, CCB Active purchasing 6.11 per cent and CCB Leader acquiring 6.80 per cent. The seller, the Stara Zagora-based Sila Holding, still holds 822,486 shares, or 69.83 per cent of the capital. In July last year, Bulgartabac sold the plant in Stara Zagora for BGN18 million, along with one in Plovdiv, which went for BGN31 million. The state enterprise now has only two plants, one in Sofia and the other in Blagoevgrad. Earlier this month, it was announced that the privatization of Bulgartabac had been delayed following a decision by the government to hire a consultant to help the Privatization Agency. Enditem