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Bulgaria to sell Bulgartabac, power units` stakes in 201124.01.2011

Bulgaria expects to finalise the privatisation of tobacco group Bulgartabac Holding and its remaining stakes in local electricity distribution companies by the end of the year, finance minister Simeon Djankov said.
The assets, together with Vazovski Mashinostroitelni Zavodi (VMZ), building firms Montazhi and Promishleno Stroitelstvo Holding, the duty-free zones of Bourgas and Svilengrad and ten other companies in which the state owns stakes of over 50% are part of the privatisation agency`s 2011 sell-off programme, Djankov said on the sidelines of a parliamentary session on Friday.
The agency also plans to sell another 30 companies in which the country holds below 50% this year, he added, declining to say whether the units will go private through sales on the bourse in Sofia or via auctions.
A year earlier, the country`s government stated that privatisation proceeds for 2010 could reach BGN 1 billion on condition that Bulgartabac`s sale takes place.

Source: Dnevnik

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