Charlotte
03-02-06, 04:54 PM
"The privatization of Bulgaria Air will be finalized by June," said Bulgarian Minister of Transport Petar Mutafchiev after a sitting of the Council of Ministers. The government is expected to approve the privatization strategy of the company in two weeks. The deal is crucial as Bulgaria will soon join the EU.
"The main criteria will be the balance between price and investments," said Mutafchiev further.
For the moment, a Bulgarian company and a strategic European investor requested to participate in the privatization procedure. Ninety-nine percent of the capital of Bulgaria Air will be offered for sale. The Bulgarian state will retain some influence in the management of the company through a so-called "golden share" giving the right to veto important decisions.
To be eligible to participate in the privatization procedure the strategic investors must have over 150 million euro of revenues from aviation services in the past two years and to have transported over 750,000 passengers during the same period of time.
Alexandra Zlatinova
http://www.standartnews.com/
"The main criteria will be the balance between price and investments," said Mutafchiev further.
For the moment, a Bulgarian company and a strategic European investor requested to participate in the privatization procedure. Ninety-nine percent of the capital of Bulgaria Air will be offered for sale. The Bulgarian state will retain some influence in the management of the company through a so-called "golden share" giving the right to veto important decisions.
To be eligible to participate in the privatization procedure the strategic investors must have over 150 million euro of revenues from aviation services in the past two years and to have transported over 750,000 passengers during the same period of time.
Alexandra Zlatinova
http://www.standartnews.com/