The state-owned tobacco holding Bulgartabac has called another auction on the stock exchange scheduled for November 21. The holding will sell out 85% of the tobacco processing plant in Pazardzhik. The bidding will start from a floor price of BGN 1.46mn (EUR 0.8mn). Bulgartabac has recently auctioned 80.6% of the printing and paper packaging plant Jurii Gagarin in Plovdiv for a total of EUR 16.6mn, exceeding the price threshold for the main package of 67% by 22.5%. A number of other auctions are expected to follow for loss-making tobacco processing units and for the smallest of the four cigarette packaging plants. The three main cigarette makers in Blagoevgrad, Sofia and Plovdiv will remain in the structures of the holding for now.
Source: IntelliNews - Bulgaria Today