Emil Karanikolov, Executive Director of the Privatisation and Post-Privatisation Control Agency: Resale of Bulgartabac will be possible before the set 5-year period

The only candidate-buyer of Bulgartabac Holding - BT Invest, registered in Austria - will be able to resell the tobacco holding company earlier than the 5-year period set in the draft contract, Emil Karanikolov, Executive Director of the Privatisation and Post-Privatisation Control Agency, announced, cited by Livenews.bg.

The deadline for submission of a final binding offer for Bulgartabac expires today. “I am optimistic that the only candidate will submit a bid,” said Karanikolov. According to him, the Agency’s Supervisory Board will approve the submission of the bid only if it meets the criteria and objectives of the privatisation.

Procedures for the sale of minority stakes in the defence industry companies Arsenal and Terem are to be held, too.

By the end of June, the revenues of the Privatization Agency stood at almost BGN 7 mln. Revenues by the end of 2011 are projected at BGN 450 mln, including the expected proceeds from the sale of Bulgartabac, of state-owned stakes in the electricity distribution companies, of Arsenal, of Technoexportstroy, which has been recently removed from the prohibition privatisation list, of the building and land plot of the Rodina Publishing and Polygraphic Complex, as well as the sale of state-owned properties whose evaluators are being selected at present.

According to sources of Livenews.bg, the Privatisation Agency expects revenues of between BGN 120 mln and BGN 150 mln from the sale of the state-owned stake in the Austrian electricity distribution company EVN Bulgaria alone. If the sale of 33% in EVN Bulgaria brings BGN 150 mln, this amount will be some BGN 100 mln lower than the price at which the majority package was purchased seven years ago when the Austrian company acquired 66% for €271 mln. Therefore, the residual 33% stake should cost about BGN 270 mln, the sources explained.

Прочети цялата новина

Свързани новини: