Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

JTI, КТ&G Said to Eye Bulgaria's Bulgartabac
JTI, КТ&G SAID TO EYE BULGARIA'S BULGARTABAC
Date: 26/04/2011
Source: novinite.com
JTI, КТ&G Said to Eye Bulgaria's Bulgartabac

Korea's КТ&G, Japan Tobacco International, Czech and British investment funds have declared interest in the privatization of Bulgaria's state cigarette producer Bulgartabac Holding, according to media reports.

Korean KT&G had voiced interest in the privatization of Bulgartabac as early as during the term of the government of Simeon Saxe-Coburg.

KT&G is the largest cigarette and tobacco company in Korea, whose share accounts for 80% of the local market. Over the last ten years the company has been purchasing from Bulgartabac Bulgarian tobacco used in the manufacture of cigarettes.

Japan Tobacco Inc. (JT) is the third largest tobacco company in the world, having its headquarters in Tokyo. According to Euromonitor data, the share of the corporation in the world market makes 10.5%. JT International (JTI) is the international subdivision of "Japan Tobacco Inc.", formed as a result of purchase of the international tobacco business of American R.J. Reynolds International Concern by the Japanese company. The head office of JTI is in Geneva.

JTI sells cigarette brands including Camel and Salem. It runs 16 tobacco plants outside Japan — in Canada, Kazakhstan, Romania, Serbia, Ukraine, Andorra, Germany, India, Malaysia, Switzerland, Jordan, Tanzania, Tunisia, Turkey and Russia, where it has two sites.

At the end of 2006 the company acquired UK tobacco company Gallaher after its GBP 7.5 B takeover bid for the maker of Silk Cut cigarettes and Hamlet cigars proved successful.

Speaking for Dnevnik daily Martin Braddock, JTI's Regional President, CIS, Romania and Adriatics, confirmed last yer that the company is interested in the acquisition of Bulgartabac, but its bid will depend on sale price, planned lay-offs and investments.

Bulgaria's state cigarette producer Bulgartabac Holding, whose management has been harshly criticized in recent years, will be declared for privatization on Tuesday after years of procrastination.

The long-delayed procedure will be given the go-ahead by the agency for privatization and post-privatization control.

The sale of Bulgartabac Holding AD, Sopot-based Vazovski Mashinostroitelni Zavodi or VMZ, and the minority stakes in the electricity distributors have been said to be a must-do task in 2011 due to the sorry performance of the state-owned companies.


Topic: Business



Featured District
VIDIN DISTRICT AND CITY INFORMATIONVidin
Invest Bulgaria Charts
Foreign Liabilities of Bulgaria
Foreign Liabilities of Bulgaria

Private Sector External Debt of Bulgaria
Private Sector External Debt of Bulgaria

See all charts
Did You Know?
Bulgarians Abroad
Bulgarians Abroad
More than 100,000 Bulgarians live in Chicago ... More

Bojentsi is one of the most famous Bulgarian villages; situated in the middle of Balkan Mountains, it is an architectural-historical reserve, a member of the 100 National Tourist Sites of Bulgaria.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2019 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


Bulgaria Translation Bulgarian Agriculture Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works, creators of Uudet Nettikasinot 2019, 最新カジノ and Svenska Casinon. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members