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“BRITISH AMERICAN TOBACCO” WILL BUY THE MOST POPULAR BRANDS OF “BULGARTABAC”
The international company “British American Tobacco” (BAT) will buy the most popular brands of Bulgarian cigarettes, the company said.
The seller - “Bulgartabac”, besides the cigarette brands, will sell also its distribution company and a part of its cigarettes selling commercial chain. From “The Privatization and Post-Privatization Control Agency” said for the Bulgarian National Television, that the ban on sale of assets of the privatized in 2011 "Bulgartabac" has expired.
The deal is worth over 100 million euros. The international company was one of the favourite candidates to privatize “Bulgartabac” back in 2005. But the deal, then worth 250 million euros, collapsed.
Before acquiring the brands, the Bulgarian “Commission for Protection of Competition” must approve the deal. Currently the Bulgarian company holds 28% of the cigarette market in the country and BAT - nearly 13%.
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