Up to 75% of the stakes in the eight plants of bulgaria's state-owned arms holding terem will be sold. Experienced consulting companies will be hired to advise on the sale of the eight companies. There is investor interest in five or six of Terem's plants. Flotski Arsenal varna, which is the company with the best financial results, draws the strongest interest.
Meanwhile, Bulgarian Ministry of Defence has opened a procedure for the selection of a consultant for the market oriented restructuring of Terem. The consultant has to work out effective schemes for public-private partnership for each of the eight plants and to increase the value of Terem. Applications are expected until April 14.
Source: MARKET SPOTLIGHTS OF APRIL 2006