Privatization Agency will make another attempt to sell the military research complex Nitti EAD of Kazanlak, central Bulgaria. It is now under the management of the Ministry of Economy and Energy. As a first step, the agency opened a procedure for conducting a limited competition for commissioning an analysis of the legal status of the company as well as a privatization evaluation and information memorandum. The last competition for a firm to prepare the documents for the privatization of 690 392 registered shares, was from June 2007. Otherwise, a buyer for the shares had been sought back in July 2004 and until now they have been offered three times at a public auction (in 2008 and 2009). But a deal was never reached because of a lack of candidates, and despite the lowering of the price.
Nitti is in the list of the major projects to be offered for privatization in 2014. It is envisaged that the state will dispose of its entire stake (100%) of the capital.
Right to participate in the procedure now have natural or legal persons, including their associations that meet the requirements of the protection of classified information act and who have access to the appropriate level of classified information. In addition, candidates are expected to have a team which necessarily involves persons with granted permits for access to classified information, while the entity – must have a security certificate, including a certified independent appraiser and a qualified lawyer.
Bids must be submitted within seventy days from the date of publication of the announcement in a national daily paper . To take part a candidate has to pay a deposit for participation in the competition of 200 levs (excluding value added tax), no later than the deadline for submission of proposals.
The main difficulty associated with the evaluation and privatization of Nitti is its specific activity that requires interested parties to have certificates from the Defence Ministry.
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