Bulgaria's privatisation agency hired Czech company Patria Corporate Finance to advise the sale of the state-owned stakes in the operator of Bulgaria's stock exchange [BUL:BSO] and central depository.
Patria Corporate Finance will do the marketing and prepare a due diligence study, an information memorandum and an appraisal of each of the two companies, the bourse said.
In March, Bulgaria's finance ministry authorized the government's asset-selling agency to prepare the sale of a 50.05% stake in the Bulgarian Stock Exchange (BSE) operator and a 43.7% interest in the Central Depository to a single strategic investor.
At the end of September the privatisation agency opened a tender procedure for an adviser to the sale of the two companies. Back then it said eligible candidates should have at least one successfully completed deal for the sale of firms active in trading in financial instruments on regulated markets or should have had advised such transactions between 2005 and 2011.