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BULGARIAN TECHNOLOGIES ACQUIRES SOFIA CINEMA HALLS
Business | August 1, 2001, Wednesday // 00:00
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Bulgarian Technologies is the buyer of the Sofia cinema halls brought together in the state-owned corporation Sofia Film. It will acquire 75% of the Sofia Film capital. Sofia Film owns 10 of the nearly 30 movie theatres in the Bulgarian capital. The privatisation contract is due to be signed within a month. Bulgarian Technologies offered to pay BGN 4.712 million, all of it in cash. It also undertook to invest additional BGN 6 million within a five-years period. The buyer promised that the European and Bulgarian products would make up 20%, which is 5% more than the required. Bulgarian Technologies will have to keep the line of business of the newly acquired enterprise for 10 years or more.
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