NEW BUYER SOUGHT FOR STATE INSURANCE INSTITUTE

Business | November 5, 2001, Monday // 00:00

The Supervisory Board of the Bulgarian Privatization Agency decided to end the negotiations with the consortium of TBI holding and the State Insurance Institute 2000. The negotiations used to be conducted for the sale of 67% of the State Insurance Institute. The Privatization Agency announced that it will close the current privatization procedure and will initiate a new one. The EUR 1.11 M deposit, paid by the consortium will be returned. TBI was not notified about the closure in written form. According to experts, quoted by Dnevnik Daily, TBI may file claims against the state for the failed two-year long privatization process.
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