The local authorities in the capital city of Sofia have sold out the road construction company Roads&Facilities to the local copper miner Elatsite Med at the price of BGN 29mn (EUR 14.8mn). The price reached in the tender exceeds more than three times the bidding threshold of BGN 8.3mn. Sofia mayor Boyko Borisov comments that the privatisation receipts will be invested in road rehabilitation and modernisation of schools. The growing amount of funds earmarked to infrastructure projects has significantly raised the interest in taking over road construction firms in the past several months. This has brought big gains to the shareholders of such firms floated on the local stock exchange.
Source: IntelliNews - Bulgaria Today