Bulgaria’s Security Agency to Be Consulted on Privatization of Central Depository

Business | May 5, 2015, Tuesday // 12:08
Bulgaria: Bulgaria’s Security Agency to Be Consulted on Privatization of Central Depository Emil Karanikolov, head of the Privatization and Post-Privatization Control Agency, photo by BGNES

Emil Karanikolov, head of the Privatization and Post-Privatization Control Agency, has said that the State Agency for National Security (DANS) will be consulted on the privatization of the Central Depository AD.

In an interview for Standard daily, Karanikolov comments on the stance of the Financial Supervision Commission (FSC) that the privatization of the Bulgarian Stock Exchange (BSE-Sofia) and the Central Depositary AD in one package may be unfavorable to the country’s financial system.

He explains that the Supervisory Board of the Privatization Agency will decide on whether the Central Depository AD should be included in the privatization program on the basis of the stances of two entities, the Financial Supervision Commission and DANS.

In his words, this is why the privatization program for 2015 only includes the BSE-Sofia.

According to Karanikolov, the Privatization Agency hopes to attract large-scale investors in the procedure, which dispels worries about the impact of the measure on the financial system.

He adds that the participants will also need the approval of the FSC in order to be admitted to the competition.

Karanikolov informs that a proposal is being prepared to take out 11 clearly defined parts of the ADIS (Domestic Diplomatic Properties Agency) in order to sell them.

A procedure is currently underway to return the company to the no-privatization list of the Privatization Agency.

According to Karanikolov, the 11 clearly defined parts are business premises, mostly large Sofia-based stores, and their sale will not harm the company but will provide fresh resources for the upgrade of the other properties.

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Tags: Privatization and post-Privatization Control Agency, State Agency for National Security, DANS, Bulgarian Stock Exchange, BSE-Sofia, Financial Supervision Commission, Domestic Diplomatic Properties Agency, ADIS, central depository
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