Expats

Bulgaria Tries to Privatize Technoexportstroy at Cut Price [May 08, 2012] The Bulgarian state has listed state construction company Technoexportstroy in a second privatization bid with a cut price, after a first listing failed to convince buyers. A first try in the beginning of April, in which Technoexportstroy was valued at BGN 68 M, attracted 4 companies who bought the documentation, but then refrained to bid. Now the state-owned company is listed for BGN 60 M for ... [via YahooNews] More >>

Bulgaria Seeks Only Majors to Help Sell Stock Exchange - Report [Mar 21, 2012] Bulgaria will seek to hire only major investment banks or consultancies to help arrange the privatization of the country's only stock exchange and depository, according to insiders. There are two major eligibility criteria advisers should meet, Capital daily reported, citing parameters of the privatization procedure it has obtained. The eligible advisers should have featured among Mergermarket's ... [via YahooNews] More >>

Go-Ahead for Bulgaria's Stock Exchange Sale, Majors Wooed - Report [Mar 14, 2012] Bulgaria targets major global and European bourse operators for the sale of its only stock exchange, which it hopes to wrap up in the first half of this year, according to insiders, cited by local media. Bulgaria's government has packed together its stake at the stock exchange and the depository in a bid to sweeten the deal for the bourse privatization. The bundling ensures that the new owner ... [via YahooNews] More >>

Bulgaria Poised to Sell Multi-million Railway Freight Services Co [Dec 09, 2011] Bulgaria's Borisov Cabinet has firmly decided to go for the privatization of BDZ Freight Services ? the one moderately profitable division of the vastly troubled Bulgarian State Railways BDZ. "We are certainly going to sell BDZ Freight Services, and I am responsible for that. I am not worried in any way about the privatization topic," Bulgaria's Transport Minister Ivaylo Mosvkoski stated at a ... [via YahooNews] More >>

Bulgaria's Stock Exchange Privatization Stalls - Report [Oct 10, 2011] Bulgaria's hopes to find an investor for its bourse by the end of the year have gone sour as no bidders have declared interest so far, according to insiders. The interest in Bulgaria's stock exchange privatization has sharply declined over the last few months and no talks, even unofficial, have been held, local media reports say. Shortly after the Bulgarian Stock Exchange launched the sale of ... [via YahooNews] More >>

Bulgaria Sale Body Admits Mystery Veils Bulgartabac Bidders [Jul 07, 2011] The head of Bulgaria's sale body has confirmed media reports that nobody knows yet who stands behind the two Austria-registered bidders for the state-owned tobacco giant Bulgartabac. Earlier this week it emerged that only three companies will submit binding bids for the privatization of Bulgartabac Holding and only one of them is a strategic investor ? British American Tobacco. The other two ... [via YahooNews] More >>

Bulgaria's Corporate Bank Head Denies Links to Bulgartabac Bidders [Jul 06, 2011] The head of Bulgaria's Corporate Commercial Bank, which is believed to finance the media group of mogul Irena Krasteva, has denied he is interested in the privatization of the country's state tobacco giant Bulgartabac Holding. "I don't want to buy the state-owned stake in Bulgartabac, I have not even bought documents for the tender," Tsvetan Vassilev, majority owner and chair of the Supervisory ... [via YahooNews] More >>

Bulgaria's Economy Minister Upbeat about Bulgartabac's Privatization [Jun 24, 2011] The privatization of the Bulgarian state-owned cigarette produce Bulgartabac will be successful thanks to the privatization criteria, according to Economy Minister Traicho Traikov. Answering MPs' questions in Parliament Friday, Traikov defended the way the government is going about the sale of Bulgartabac Holding in spite of criticism by the opposition Socialists that it is unclear who will be ... [via YahooNews] More >>

Bulgaria Fin Ministry Acquires C-Bank Stake in Depository [May 12, 2011] Bulgaria's government has moved a step closer to packing together its stakes at the stock exchange and the depository in a bid to sweeten the deal for the bourse privatization. The central bank announced on Thursday it has decided to transfer its 20% stake in the central depository to the finance ministry. The two thousand shares will be purchased at their nominal value of BGN 100 apiece. ... [via YahooNews] More >>

Bulgaria's Corporate Bank Head Eyes Tobacco Giant [May 11, 2011] The head of Bulgaria's Corporate Commercial Bank, which is believed to finance the media group of mogul Irena Krasteva, has confirmed his interest in the privatization of the country's state tobacco giant Bulgartabac Holding. "I do consider participation in Bulgartabac privatization," Tsvetan Vassilev, majority owner and chair of the Supervisory Board of Bulgaria's Corporate Commercial Bank ... [via YahooNews] More >>

Bulgaria's Tobacco Giant in Third Sale Attempt [May 10, 2011] A notice for the privatization of Bulgaria's former state tobacco monopoly Bulgartabac Holding is due to be published in the State Gazette on 10 May. The promulgation will mark the start of the third official attempt to sell the state-owned stake in the company, which is expected to be successful thanks to the political consensus the deal now enjoys, the agency for privatization and post ... [via YahooNews] More >>

Bulgaria to Sell Duty-Free Zones on Stock Exchange [May 09, 2011] A total of 26 companies with full or total state participation will be floated on the Bulgarian Stock Exchange (BSE), announced the Agency for Privatization and Post-Privatization Control on Monday. Among the attractive companies whose shares will be put up for sale are 100% of Sofia-based Montazhi, 100% of Duty-free zone Svilengrad, 46.398% of Duty-free zone Plovdiv, 46% of Transit Trade Zone ... [via YahooNews] More >>

Bulgaria's King's Tobacco Confirms Interest in Bulgartabak [May 04, 2011] Bulgarian cigarette maker King's Tobacco has confirmed its interest in the privatization of the country's state tobacco giant Bulgartabac Holding. "Provided that we meet the requirements, we will join the competition. The requirements are pretty high because the state wants to protect the interests of tobacco producers," Boyko Kachulev, CEO of the company, commented. ... [via YahooNews] More >>

Bulgaria Launches Privatization of State Tobacco Giant [Apr 26, 2011] Bulgaria's state cigarette producer Bulgartabac Holding, whose management has been harshly criticized in recent years, will be declared for privatization on Tuesday after years of procrastination. The long-delayed procedure will be given the go-ahead by the agency for privatization and post-privatization control. The sale of Bulgartabac Holding AD, Sopot-based Vazovski Mashinostroitelni Zavodi ... [via YahooNews] More >>

Bulgaria to Seek Strategic Investor for Largest Military Factory [Feb 02, 2011] Bulgaria will be looking for a strategic investor for its largest weapons factory, VMZ Sopot, which has been scheduled for privatization. This a major win for Minister of Economy and Energy Traicho Traikov, who has been fighting with FinMin Simeon Djankov, a supporter of a mere financial investor. "Financial investors will be able to participate only in a consortium with stategic investors ... [via YahooNews] More >>

Bulgaria to Start Privatization of State Tobacco Giant in February [Jan 30, 2011] Bulgaria's state cigarette producer Bulgartabac Holding will be declared for privatization in February 2011, according to the Economy Ministry. Bulgartabac, whose state management has been questionable in the recent years, will be put on the privatization table after its privatization has been mulled for years. Last week Finance Minister Simeon Djankov reiterated earlier announcements that ... [via YahooNews] More >>

Bulgaria to Go Ahead with Privatization of Its Largest Military Plant [Jan 26, 2011] VMZ Sopot, Bulgaria's largest but troubled military factory, will be put on the privatization table by the Borisov Cabinet. The decision to start the privatization of VMZ Sopot is No. 1 on the agenda of the government's weekly meeting on Thursday. ... [via YahooNews] More >>

Bulgaria Govt Makes New Privatization Push to Rake in Revenues [Jan 26, 2011] Bulgaria's government will offer again for privatization through the Sofia stock exchange a package of small state companies or stakes in such firms as part of its efforts to boost public revenues. This will be the second attempt at privatization for the center-right government of Boyko Borisov since the beginning of its term last summer. "This time the package will include eleven state ... [via YahooNews] More >>

Bulgaria Govt Rapped for Failed Privatization Attempts - Survey [Jan 18, 2011] Bulgaria's government is most heavily criticized for its failure to rake in revenues into the budget by privatization, shows a survey, conducted among analysts, employers and trade unionists. According to the experts the failed privatizations prove that the plan of the government was chaotic and controversial, says the poll, conducted by the Institute for Market Economy. The privatization tender ... [via YahooNews] More >>

Citigroup Set to Complete Bulgaria State Tobacco Firm Analysis [May 11, 2010] Bulgarias Energy, Economy and Tourism Minister, Traicho Traikov, has revealed that the legal analysis and privatization evaluation of the state tobacco company Bulgartabac will be completed in the next 50 days. [via YahooNews] More >>