Deutsche Bank Acquired Tobacco Capital Partners

Business | January 15, 2003, Wednesday // 00:00

Deutsche Bank acquired 100 percent of the capital of Tobacco Capital Partners, a spokesman of the London headquarters of the bank told local press. He explained that this action was a preparatory step to acquire Bulgartabac Holding, hoping that this will happen in the near future. So far, Tobacco Capital partners was owned by the lawyers from the bureau " Dzhingov, Guginski, Kyuchukov and Velichkov." Tobacco Capital Partners was set up exclusively to participate in the privatization procedure of Bulgartabac in consortium with Clar Inns, 100 percent owned by Deutsche Bank. The consortium Tobacco Capital Partners and Clar Inns was named preferred buyer of tobacco monopoly but later this decision was overturned by a three-member panel of the Supreme Administrative Court. Later, the decision was confirmed by a five-member panel of the same court. Apostol Apostolov, head of the Privatization Agency, said that the news that Deutsche Bank acquires the shares of Tobacco Capital Partners will not change the procedure for the privatisation of Bulgartabac. The economic team of the government is expected to announce next week how it would proceed with the key privatization deals of the Bulgarian Telecommunications Company and Bulgartabac Holding.

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