VIDAHIM MIGHT BE SOLD FOR USD 1, THE BUYER SHOULD PAY BGN 68 M DEBTS

Business | January 2, 2002, Wednesday // 00:00

The Bulgarian company Vidahim might be sold for USD 1, Martin Donchev, Vidin’s governor announced. According to him, this is the only way an investor can be found. The assets of the company were assessed to BGN 65 M. The insolvency procedure of Vidahim was temporarily stopped. The Privatization Agency is in charge of the sale of the company. The denationalization of Vidahim has to take place within four months. The Agency might sell the plant for tyres, the plant for fibres and the thermo-electric power station with Vidahim in package for USD 1. The buyer, however, will have to pay the debts of the company. Preliminary data show that Vidahim’s debts are BGN 68 M. The Russian company “Topneft” was the last potential investor who showed interest in “Vidahim” two months ago.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria