Банкеръ Weekly

Briefs

KINTEX AND TERATON'S PRIVATISATION TO BE LAUNCHED

The competition for evaluators of Kintex and Teraton - the two remaining enterprises trading in special production (the third one, named Armimex, went bankrupt) will be invited in September. Thus, practically, the privatisation of the two companies will finally be launched.So far the deadlines for sumbission of evaluation offers, legal analyses and information memoranda, have been postponed several times. According to the latest information, the offers for Kintex should be filed by September 15, and those for Teraton will be accepted till September 30. The candidate-buyers are expected to have received access for working with state secret in compliance with the Classified Information Act. Apart from licensed evaluators and lawyers, the teams of consultants will also have to include experts in the trade in arms.According to the Privatisation Agency, Kintex reported sales proceeds of BGN144MN in 2001. The company's profit for the same year was BGN11.2MN. The total built-up area of the firm's buildings is 12,734 sq. m. In 2001 Teraton reported a profit of BGN68,000 and a turnover of BGN10MN-plus. There are only six people employed by the company. Both Kintex and Teraton are inlcuded in the special privatisation list. This means that the strategy for their privatisation should be approved by Parliament and their eventual buyer will have to be approved by the Government.

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