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Bulgaria privatises more plants

Bulgaria’s privatisation agency is about to start procedures for the privatisation of another 42 small hydroelectric power plants, according to the Bulgarian Economic Review. The privatisation agency also announced that it has received eight offers for hydroelectric power plants comprising the Sandanska Bistritsa and Pirinska Bistritsa cascades.

The Energo-Pro joint stock company from the Czech Republic has offered the highest price of US$33.06M, plus investments of US$5.45M, for the Sandanska Bistritsa cascade. Half of the purchase price will be paid immediately after the deal is signed. A management buy-out team offered US$33M for the cascade, but only 10% of the amount would be paid immediately.

A management buy-out team has also offered US$32M for the Pirinska Bistritsa cascade submitting two other bids of US$15M each.