FlixBus Expands Routes from Bulgaria: New Connections to Thessaloniki, Athens, and More
FlixBus, the renowned European bus company, is set to launch new routes to and from Bulgaria in anticipation of the summer season
Sofia Upbeat on Finalizing Tobacco Giant Sale by End-2003
Business | May 19, 2003, Monday // 00:00
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Bulgaria has the potential to finalize the sale of Bulgartabac, Agriculture Minister Mehmed Dikme said in an interview for the Bulgarian National Radio.
The comment came in the wake of the World Bank warning that the government may not get its hands on a USD 150 M tranche under the PAL-2 facility if Bulgartabac does not go under the hammer in 2003.
The faster the privatization of Bulgartabac is concluded, the better, the minister said, urging at the same time that Bulgaria's tobacco giant is not sold at any price.
Sale negotiations with Tobacco Capital Partners, as well as the whole privatisation procedure for Bulgaria's tobacco holding Bulgartabac, was discontinued at the beginning of April.
The procedure for an 80% stake in Bulgartabac equity was won twice in 2001 and 2002 by Deutsche Bank-owned Tobacco Capital Partners. In the middle of March Bulgaria's Parliament approved the Cabinet's decision for naming EUR 110 M bid of Deutsche Bank-owned Tobacco Capital Partners a winner for 80% stake in Bulgaria's tobacco monopoly Bulgartabac.
The main factor that tripped the sale however was the bank guarantee, which in the words of Economy Minister Vassilev, did not comply with the Privatisation Agency requirements.
The comment came in the wake of the World Bank warning that the government may not get its hands on a USD 150 M tranche under the PAL-2 facility if Bulgartabac does not go under the hammer in 2003.
The faster the privatization of Bulgartabac is concluded, the better, the minister said, urging at the same time that Bulgaria's tobacco giant is not sold at any price.
Sale negotiations with Tobacco Capital Partners, as well as the whole privatisation procedure for Bulgaria's tobacco holding Bulgartabac, was discontinued at the beginning of April.
The procedure for an 80% stake in Bulgartabac equity was won twice in 2001 and 2002 by Deutsche Bank-owned Tobacco Capital Partners. In the middle of March Bulgaria's Parliament approved the Cabinet's decision for naming EUR 110 M bid of Deutsche Bank-owned Tobacco Capital Partners a winner for 80% stake in Bulgaria's tobacco monopoly Bulgartabac.
The main factor that tripped the sale however was the bank guarantee, which in the words of Economy Minister Vassilev, did not comply with the Privatisation Agency requirements.
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