Bulgaria Opens Sale Procedure for Arms Maker VMZ Sopot

Bulgaria Opens Sale Procedure for Arms Maker VMZ Sopot

Bulgaria said it has launched a single-round competitive procedure for the sale of 100% of arms producer VMZ Sopot.

Binding offers have to be filed by the 165th day after the tender notice is published in the State Gazette, the country’s privatisation agency said in a statement on Monday.

A total of 118,000,000 VMZ Sopot shares will be put up for sale.

One of the eligibility requirements for prospective bidders is combined sales revenue of at least 120 million levs ($75.4 million/61.4 million euro) for the past three years. Tie-ups are barred from the sale procedure.

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