Bulgaria Starts Privatization of Cigarette Monopoly Bulgartabac

Bulgaria's Privatization Agency has started the procedure for picking a consultant for the privatization of Bulgartabac. Photo by BGNES

Bulgaria’s Privatization Agency announced Friday an open tender for selecting a consultant for the privatization of the state-owned cigarette monopoly Bulgartabac.

The application forms costs BGN 2 000, and can be purchased within 35 days after the publication of the tender decision in the State Gazette. The deposit for participation in the tender is BGN 5 000, and must be transferred to the Privatization Agency account.

The deadline for submitting an application is 5:30 pm on the 40th day since the publication of the tender decision.

The requirements for the eligible candidates state that they should be international investment banks which are in the top 20 of the League Tables of Financial Advisers in 2007-2009 published by Merger Market or Thomson Reuters.

The candidates must be a leading a consultant of at least one privatization deal of a tobacco company in the last three years, and to have experience with privatization deals. In addition, they should be familiar with Bulgarian law, should have a team of proper legal and economics specialists, should not be in a legal dispute with the Bulgarian state, and should not be in liquidation.

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