Банкеръ Weekly



Revenues from divestment in 2004 totalled BGN2.2BN, the Privatisation Agency (PA) reported. The amount includes BGN2BN of agreed payments, BGN136.9MN of undertaken liabilities, and BGN29.3MN of investments. For comparison, agreed payments for the entire 1999-2003 period were almost BGN2BN. Undoubtedly, the sale of the Bulgarian Telecommunications Company (BTC) and of the seven electricity distribution utilities had the greatest contribution to that amount. Divestment through the stock exchange, which got its way last year, also had its share in that satisfactory financial result. 88.7% of the privatisation sales were effected through public tenders on the BSE-Sofia and offering of shares against compensation instruments of payment or money. The PA closed a total of 1,376 deals, 143 of them for majority packages. Thus, 87% of the assets slated for divestiture are already in private hands. BTC and the seven electricity distribution utilities went into foreign investors. The greatest number of privatized enterprises were from the construction branch (33%), followed by the energy sector (17.5%), trade (15.4%), agriculture (13.3%) and industry (11.2%).

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