Банкеръ Weekly

Briefs

DEAL ON BULGARTABAC TO BE LITIGATED IN COURT

The finalization of the sale deal on Bulgartabac Holding is about to go out of the sphere of influence of the executive power and will more and more depend on the will of the magistrates. On Monday (September 9) at least two of Bulgartabac's candidate-buyers will litigate the deal at the Supreme Administrative Court (SAC). They are waiting for the last day of the 14-day term for appealing against the decision of the Privatisation Agency (PA), by which on August 23 Tobacco Capital Partners was nominated preferred buyer of the holding. PA's decision will be most probably litigated by the consortium Metatabak (dominated by the notorious businessman Michael Chernoy) and Tobacco Holding (in which International Tobacco Fund, formerly owned by Mr. Chernoy, is the major shareholder).

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