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BIDS FOR HEMUS AIR TO BE UPGRADED
Business | May 25, 2001, Friday // 00:00
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The bids for state owned Hemus Air airline should be upgraded by May 28,2001, the Privatisation Agency (PA) said. PA put new requirements for the 51% of the air carrier. The three bidders, Leasing Company, Pirin Tourist and Albanian Airlines, have already upgraded once their offers in the beginning of May, Under the new requirements the price should be paid 90 % in compensatory notes, which were issued during the privatisation process, and 10% in cash. Bidders should buy large amounts of compensatory notes, which are currently traded at Bulgarian levs (BGN) 0.23 for BGN 1 face value. The price should be paid in 15 days after signing of the privatisation deal.
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