BULGARIA TO RESTART SALE OF FOUR DUTY-FREE ZONES

Bulgaria's Privatisation Agency will again try to sell stakes in the duty-free zones of Bourgas, Plovdiv, Svilengrad and Varna, the Bulgarian Stock Exchange (BSE) said in a statement on November 4 2011.

The assets, whose privatisation is part of the Government's anti-crisis package, will be now offered at prices significantly lower than those in the previous tender.

According to the statement, the state will put up for sale its 100 per cent stake in Free Zone-Svilengrad, seeking to raise five million leva, or 50 per cent less than the amount sought in the previous auction.

The sell-off agency has also cut by 10 per cent the indicative price for its 46 per cent stakes in Trade Tranzit Zone-Varna and Duty Free Zone-Plovdiv to 5.5 million leva and 3.15 million leva, respectively.

The country is also selling a 19 per cent stake in Duty Free Zone-Bourgas, having set the starting price at 2.6 million leva.

Duty-free zones have been established for trade and storage of any products slated for exports, as well as for processing of uncustomed goods, transport and unloading of products transited through Bulgaria and subsequently re-exported.