Govt To Decide on Arms Maker Sale by Jan 23

Govt To Decide on Arms Maker Sale by Jan 23

Bulgaria's government will decide by January 23 whether to sell troubled state-owned arms manufacturer VMZ Sopot.

The procedure for the sale of 118,000,000 VMZ Sopot shares was launched in the summer. In November, the privatisation agency said that local company Emko was the only candidate buyer admitted to the second stage of the privatisation.

Emko has said that it will file a binding offer by January 11, local reported on Monday, quoting economy minister Delyan Dobrev.

The government will then review the offer and the arms maker will most probably have a new owner by February, Dobrev added.

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