Bulgaria’s Privatization Agency Registered Revenues of BGN 2.35 M in H1, 2014

Business | January 19, 2015, Monday // 21:33
Bulgaria: Bulgaria’s Privatization Agency Registered Revenues of BGN 2.35 M in H1, 2014 Bulgaria’s Privatization and Post-Privatization Control Agency (PPCA) HQ, photo by priv.government.bg

Bulgaria’s Privatization and Post-Privatization Control Agency (PPCA) registered revenues of BGN 2.35 M in the first half of 2014, according to a report of the PPCA submitted to Parliament.

The sum includes compensatory instruments with a nominal value of BGN 1.7 thousand.

The biggest source of revenues was receipts from the sale of stakes of companies with a state-owned stake of over 50%, at BGN 1.2 M.

Apart from that, the PPCA received BGN 1.03 M in payments under deferred payment schemes and penalties and payments related to lawsuits and enforcement proceedings for penalties and default interest.

The expenses of the PPCA for the first half of 2014 amounted to BGN 1.78 M, or 44% of the agreed expenditure ceiling for H1, 2014, according to the report, as cited by investor.bg.

In the first six months of 2014, the PPCA registered three privatization deals.

Preparations for privatization procedures under 56 other projects are underway, according to the PPCA.

According to the report, the priority deals involve the privatization of the Bulgarian Stock Exchange–Sofia (BSE), the Central Depository, and stakes of the International Fair Plovdiv, the “Audiovideo ORPHEUS” studio, and the recreational facility of the Bulgarian Council of Ministers in the Black Sea resort of Saints Constantine and Helena.

The privatization of the Bulgarian Stock Exchange–Sofia (BSE) was launched in end-2013, with a 50.05% stake to be put up for sale.

As regards the sale of a 49.63% stake of the International Fair Plovdiv, the Economy Ministry issued a stance in January 2014 against the ongoing procedure, stressing that the financial condition of the company had deteriorated and the sale was not going to fetch the anticipated amount of revenues.

According to the report of the PPCA, the Council of Ministers is also expected to revoke its decision from 2012 on the privatization of its recreational facility in the Black Sea resort of Saints Constantine and Helena because of a motion by the Justice Ministry demanding that the building be transferred to the prosecuting authority.

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Tags: Privatization and post-Privatization Control Agency, Bulgarian Stock Exchange, International Plovdiv Fair, Black Sea resort
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