Bulgaria Bulgartabac Holding Sells 23% of Shares to Mutual Funds..

November 22, 2009 - Bulgartabac Holding Group AD (or imply Bulgartabac) is a Bulgarian tobacco holding company. Established in 1947 and based in the capital Sofia, it includes 22 joint-stock subsidiary companies in the tobacco-growing regions of the country. Bulgartabac has factories in the following cities: Sofia, Plovdiv, Blagoevgrad and Stara Zagora - map.

Mutual funds have purchased 23.1 percent of the capital of Slantse Stara Zagora Tabac, the Bulgarian Stock Exchange (BSE) reported Friday,November 20th cited by pari.bg

The new government may feel this is the right time to privatize Bulgartabac, the state owned tobacco monopoly and that the new cabinet could speed up the process. Bulgartabac could even sell the company by the end of the year through a public tender, and under the condition that the new owner would buy out the existing tobacco yield. (Bulgaria - new government to speed-up Bulgartabac sale...

The four collective investment schemes acquired 272 140 shares in the tobacco processing and cigarette making factory in the southern city of Stara Zagora. The seller, the Stara Zagora-based Sila Holding maintains its majority stake after the transaction by still holding 822 486 shares which equals 69,83% of the capital.

Reference: Bulgaria Bulgartabac Holding Sells 23% of Shares to Mutual Funds, Sofia News Agency - Novinite.com, 11/20/2009.

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