The starting price for the full 99,6% state stake in Biochim bank will be set at BGN 95 M, Krassimir Katev, Deputy Finance Minister, said. The price includes the bank’s 2001 net profit. The sale will be conducting through competitive bidding and negotiations with the potential investors. The banks that will bid for Bulgaria’s fourth largest bank will be required to have a minimum of BGN 100 M net assets value, five-year experience and three audited annual reports. The bidding bank will be allowed to set up a consortium and hold at least 51% stake. Roseximbank is the first candidate buyer of Biochim bank that will conduct due diligence at Biochim. Confidentiality agreements have been signed with Roseximbank, Hebrosbank and the Commercial Bank of Greece. Bank Austria, Societe Generale-Paris, Bulbank and TBI holding have shown interest in the purchase of Biochim.