Five-Year Guarantee for Bulgaria's Growers

Source from:  Tobacco Reporter 08/19/2011

Any buyer of Bulgartabac will have to pledge production assets worth at least €30 million as a guarantee that it will buy domestically-grown tobacco for a minimum of five years, according to a story in the Sofia Echo quoting the Trud daily newspaper. If the new owner fails to fulfil any of the requirements stipulated in the privatization contract, the state will have the right to take the assets, the story added. The Austria-based BT Invest is the sole bidder for Bulgartabac. Enditem