Bulgartabac Holding Expected to be sold in September

Privatization and Post-privatization Control Agency announced that British American Tobacco Ltd (of London), BT Invest GMHB (subsidiary of Russian VTB Bank), and CB Family Office Service GMHB (of Austria) have submitted documentation of Compliance with the Pre-Qualification Requirements in the tender for 79,83% of the state owned capital of Bulgartabac Holding AD.

The bidder with the highest offer will be selected for buyer. As for now no initial price has been set. The buyer of Bulgartabac is expected to be known by the end of September.

The new owner will acquire the two larger factories in Sofia and Blagoevgrad as well as “Pleven BT” and a number of commercial brands.