TOBACCO MONOPOLY SALE IS LATE BUT TRANSPARENT, EXPERT SAYS

Business | August 25, 2002, Sunday // 00:00| Views: | Comments: 0
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The sale of Bulgaria's tobacco monopoly comes late, but is fully transparent, according to the Executive Director of the Market Economy Institute Krassen Stanchev. "This is the first transparent deal, offering equal rules for all participants," he said for the national radio. In his opinion, most of the privatization deals in Bulgaria have been delayed with seven to eight years. The consortium of Tobacco Capital Partners and Clar Innis B.V. was selected preferred buyer for Bulgaria's tobacco monopoly. Apostol Apostolov, head of the privatisation agency announced the final ranking of the three bidders, allowed to the final part of the privatisation procedure on Friday. The offer of Russia's Metatabak, which came second in the preliminary ranking was excluded from the tender. The Deutsche-bank backed consortium offered EUR 110 M for eighty percent stake in cigarette-maker Bulgartabac July 22. In the final ranking announced Friday, the consortium of Tobacco Capital Partners and Clar Innis B.V.is first with 98,15 points, followed by Tobacco Holding with 91,63 points and Rosbulgartabac with 82,02 points.
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