Bulgaria Earns 133 Mln Euro from Privatisation in 2012

Bulgaria Earns 133 Mln Euro from Privatisation in 2012

Bulgaria has raised some 260 million levs ($171.4 million/132.9 million euro) in privatisation proceeds since the beginning of the year, the government's asset-selling agency said.

The privatization agency's supervisory board approved the sale of 34% of the capital of Terem-Georgi Benkovski for 8.9 million levs earlier this week, the agency also said. Terem-Georgi Benkovski is part of the Terem group which has eight units specialised in the repair, upgrade and maintenance of military aircraft, naval vessels and armoured vehicles.

During a regular sitting on Wednesday, the government decided to remove debt-ridden concert organising company Muzika and Vreme film studio from "not-for-sale" list.

The revenues of the two companies have been declining sharply and they generate income only from rental activities, the government said in a statement. Given the high indebtedness of the two companies and the lack of business prospects before them it is only appropriate for them to be taken off the sale ban list and a privatisation procedures to be launched for them, it added. Putting the two companies on the privatisation list requires parliamentary approval.

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