Left-wing Coalition for Bulgaria will boycott the vote on the Cabinet's proposal for naming Tobacco Capital Partners buyer of Bulgartabac.

They claim that the deal contradicts the company's privatisation strategy and the lawmakers have no access to the final draft contract.

Atanas Paparizov, MP of Coalition for Bulgaria, underlined that the privatisation strategy required potential buyers to commit to a fixed minimum amount of tobacco.

Bulgaria's parliament is discussing for three hours already the Cabinet-named buyer of Bulgaria's tobacco monopoly this week, it transpired March 12.

Deutsche Bank-owned consortium Tobacco Capital Partners was named preferred buyer of an 80% stake in Bulgaria's tobacco monopoly Bulgartabac, the Cabinet decided at an extraordinary meeting March 10.

The price of the deal is EUR 110 M, 20%v of which will be transferred in an escrow account.

The government's choice of TCP as the tobacco sale winner was approved March 12 by the parliamentary economic policy committee.

An approval by parliament will launch actually the sale negotiations with TCP.The buyer is to verify the origin of the deal cash within 20 days after parliamentary approval. The contract with the buyer is to be signed within ten days after that.

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