Citigroup Chosen as Bulgaria Tobacco Privatization Consultant
Citigroup Global Markets Ltd. has been chosen as the consultant for the sale of Bulgarian state tobacco company Bulgartabac.
The Bulgarian Privatization Agency announced Thursday that Citigroup Global Markets Limited had been picked after four companies had originally bid for the consultant role including a tie-in between KBC Securities and Tokushev & Co, Raiffeisen investments- Kamburov and Renaissance Securities.
Citigroup Global Markets Limited represents the European investment banking arm of US-based financial services giant Citigroup. Its activities include underwriting equities and fixed-income products, equity research, and banking services for multinational corporations, middle-market enterprises, and small businesses.
At the end of last year Bulgaria’s Energy, Economy and Tourism Minister, Traicho Traikov, announced that the starting price for the state share in Bulgartabac Holding would be around EUR 100 M.
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