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MAJORITY STAKE IN ARMS PLANT TO BE SOLD IN PUBLIC TENDER
Business | February 28, 2002, Thursday // 00:00
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The Privatisation Agency will try to sell a majority stake in the debt-ridden Vazov Group of arms plant (VMZ) at a public tender, the Privatisation Agency announced. According to PA Chairman Apostol Apostolov it is still not clear whether the core production will be offered with the units that roll out civilian output. The mix of military and civilian production has been an obstacle for the sale of Bulgarian arms plants. The previous Cabinet prepared to sell the plant in separate units with the state retaining a golden share. Apostolov did not say whether PA will launch the sell-off procedure. The Cabinet may write off VMZ’s outstanding debts.
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