Bulgaria announced a tender procedure to sell 100% of state-owned construction company Technoexportstroy, setting the starting price at 68 million levs ($45.9 million/34.8 million euro), the privatisation agency said.
The tender will be held within 70 days after a tender notice is published in the State Gazette, the agency said in a statement on Monday. A total of 103,970 company shares will be put up for sale.
The increment is set at 1.0 million levs and the participation deposit is 10 million levs. Tender documentation can be obtained at a price of 4,000 levs.
Both financial and strategic investors will be admitted to the tender. Financial investors are required to have at least 100 million levs under management, while strategic investors should have had an annual turnover of at least 30 million levs in the past three years.