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THREE TO BID FOR HEMUS AIR AGAIN
Business | May 30, 2001, Wednesday // 00:00
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The three bidders for the state Hemus Air submitted their upgraded offers under the new requirements of the Privatisation Agency (PA). The highest bidding price was offered by Albanian Airlines, according to unofficial sources. PA put new requirements for the 51 percent of the air carrier last week. 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 percent in compensatory notes, which were issued during the privatisation process, and 10 percent 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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