Tag Archives: Bulgartabak

Bulgaria’s Competition Watchdog Gives Green Light to Bulgartabac Privatization

Bulgaria’s Commission for Protection of Competition gave a go-ahead to Vienna-registered BT Invest to acquire the country’s tobacco monopoly, cigarette maker Bulgartabac Holding. The news was reported Tuesday by the Bulgarian National Radio, BNR, citing the Commission’s decision, which came on the grounds the deal must be given a green light since it would not obstruct effective and loyal competition. … Continue reading Continue reading

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Bulgaria Confirms: New Owner to Resell Bulgarbatac

Russia’s second-biggest bank VTB, which recently acquired a majority stake in Bulgaria’s cigarette maker Bulgartabac, is highly likely to resell the holding’s assets, the economy minister has said, confirming earlier media reports. “This may happen any minute as the contract bans the resale of the holding in the next ten years, but does not ban a change in the ownership … Continue reading

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Bulgaria Signs Contract to Sell Bulgartabak to Russia’s VTB

Bulgaria signed a contract with a unit of Russia‚Äôs second-largest bank OAO VTB to sell a majority stake in Bulgartabak Holding (57B), ending a fourth effort in 12 years to sell the biggest state-owned tobacco manufacturer. The buyer of the 80 percent stake for 100.1 million euros ($136.6 million), Austrian-registered BT Invest GmbH, must continue producing tobacco and cigarettes and … Continue reading

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BAT withdraws from Bulgaria cigarette maker sale

British American Tobacco has decided not to bid for Bulgarian cigarette maker Bulgartabak, citing market and strategic reasons, the privatisation agency said on Monday. BAT’s withdrawal leaves only Austria-registered BT Invest, controlled by Russia’s state bank VTB , eyeing a majority stake in the company, which has two cigarette mills and a tobacco processing plant. “BAT’s withdrawal does not make … Continue reading

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