Bulgaria to Wrap Up Sell-Offs in 2012

The entities pending urgent privatization are the cargo unit of the Bulgarian State Railways, the BDZ, the construction firm Technoexportstroy, the state-owned real estate company Domestic Diplomatic Properties Agency and a minority state-owned stakes in energy companies, according to the daily newspaper Trud.

In early August, the PPCA stopped the tender for the sale of BDZ Freight Services after only one candidate submitted a bid and the strategic investors gave up the procedure because they found the requirements too high.

After two unsuccessful attempts to hold tenders for the privatization of Technoexportstroy, the third, which included no initial price, attracted one bid. The tender committee is to open the bid and get acquainted with the details of the offer.

Ever since it assumed office, the GERB government has been planning to sell state-owned stakes in the three power distributors.

So far, the scenario has only happened with the state-owned stake in EVN, which was sold via the Bulgarian Stock Exchange in December.