Public Auction for 49% State-Owned Stake in International Fair Plovdiv Due by end-June

Georgi Gergov, majority shareholder in International Fair Plovdiv, photo by BGNES

A public auction for the 49% state-owned stake in International Fair Plovdiv AD will be announced by the end of June, according to Emil Karanikolov, Executive Director of the Privatization and Post-Privatization Control Agency (PPCA).

Karanikolov told Darik radio Wednesday that the privatization evaluation, the legal analysis, and the info memorandum were to be ready by the beginning of June.

He made clear that the financial condition of the company would be clear in two weeks’ time.

The PPCA head was adamant that there would be no special requirements for the participants in the auction except a clear financial condition and transparency about their resources.

The majority stake in International Fair Plovdiv AD is controlled by businessman Georgi Gergov.

Gergov became a majority shareholder 8 years ago, when his stake increased to 51%.

The company was taken out of the no-privatization list in 2013.

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