PRIVATISATION

The annual plan of the Privatisation Agency projects revenues of BGN 600m ($366m) this year from sales of majority stakes in 24 enterprises, 164 residual stakes, and assets structured into ten separate production units. The list practically covers all state ownership in the corporate sector, with the exception of 113 companies that are barred from privatisation.


The list of key state-run assets to be put up for sale includes the flag carrier Bulgaria Air, Maritime and River Transport Operators, the District Heating Utilities in Russe, Plovdiv, Shumen, Pernik and Varna, the Thermal Power Plant (TPP) in Bobov Dol, the Bobov Dol Mine (to be sold off separately from the TPP) and Arms Plants VMZ Sopot and Kintex.


Bulgaria signed 9,156 sell-off deals for the 13 years of privatisation, of which 2,913 sell-off deals were for 100 pct stakes, 2,312 deals were for the sale of assets and 3,940 were for the sale of minority stakes. Bulgaria cashed in BGN 5.1 bln ($3.137 bln/ EUR 2.610 bln) in sell-off receipts and negotiated another BGN 4.0 bln ($2.460 bln/ EUR 2.047 bln) in investments under the sell-off contracts. The deals signed with foreign investors total 169 in number as the biggest deals are the sales of the country's seven power distributors to German E.ON, Austrian EVN and Czech ČEZ.