Bulgaria will seek to attract Western European and American companies for the sale of a 95 percent stake in the country's movie production centre Boyana Film Studios.

Announcements of the public tender, to be invited by the end of this year, will be published in such editions as "Variety" and "The Hollywood Reporter", the head of Bulgaria's sale body Atanas Bangachev said.

Both film producers and filmmakers will be invited to the public tender. Producers will be banned to submit offers if at least two film producers turn up at the tender.

A total of 30 percent of the price may be paid in compensatory notes.

Boyana Film Studios was set up in 1962 and combines on the same site all the necessary facilities for a full film production cycle. It is divided into three general divisions - Film Production Division, Filmlab Division and Animation Division, which consist of different departments according to the services and facilities.

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