Eleven companies have obtained the tender participation documents for the sale of 100 percent of the assets of the Varna heating utility, Bulgaria’s Privatization Agency (PA) announced. The candidates may inquire with the PA for additional information till September 4. By September 8, the bidders will have to present the required documents for admission to the tender, and the deadline for the purchase of the privatization memorandum is set for September 25. Offers will be submitted until October 23. The list of the potential bidders for the Varna heating utility is almost the same as the list of companies, which have acquired documents for the sale of the Plovdiv heating utility. The PA has previously announced it will accept strategic bidders only, which must match a number of tender requirements. The bidders must be engaged in the business of generating and/or distribution heating or electrical energy. They must provide evidence of having generated or distributed at least 150,000 MWh of electricity or 300,000 MWh of heating energy during the last three years prior to the tender. Besides, their revenue from these specific operations must total at least BGN 16 million for the last three years before the tender. The candidates must have a long-term credit rating of at least ВВ+ (Standard & Poors), Bа1 (Moodys Investors Service) or ВВ+ (Fitch Ratings). Consortiums will also be admitted to the procedure. However, the consortiums must include a strategic investor, matching the same conditions as stated for individual bidders. Off-shore companies, or companies established for the purpose of the sale will not be admitted. Companies with outstanding liabilities to the state or to companies with a majority stake held by the state will not be admitted to bid for the Varna heating utility as well. The following companies have obtained the tender participation documents: E.ON-Bulgaria EAD (Bulgaria), E.ON Energie AG (Germany), CEZ АС (the Czech Republic), EVN AG (Austria), Brikel EAD (Bulgaria), Dalkia International (France), ENER-G PLC (Great Britain), United Heating and Energy OOD (Bulgaria), Overgas Inc. AD (Bulgaria), Bulgarian Energy Group AD (Bulgaria), and Pravets Heating Utility (Bulgaria).