BULGARTABAC TAKES OVER TOBACCO FACTORIES IN RUSSIA

Business | November 26, 2001, Monday // 00:00

"Bulgartabac Holding" is to become the new owner of the Bulgarian-Russian joint ventures in Russia, Georgi Popov, its general manager said. To now, on the Bulgarian part, the ventures in Stara Zagora, Haskovo, Plovdiv and Shoumen were shareholders in the Russian-based factories. "I expect the privatization procedure to be opened in January," the International Tobacco Fund CEO Avgustin Garcia Zaldueghi said. The fund is to take part in the privatization of the holding. Georgi Popov confirmed the information. The deal is expected to be finalized in the period April-June, depending on the number of the bids.

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