One of the biggest and most problematic deals of 2006 was the privatisation of Boyana Film Studios. The company was bought by the American Nu Image for 12.224 million leva. The privatisation contract also included an additional 30 million leva investment. Although it has been several months since the contract was signed, the deal still has not been concluded because of arguments surrounding a mortgage that Boyana Films required before finally transferring 95 per cent of its shares to Nu Image. Accusations of deliberately slowing down the conclusion of the deal and trial threats menace its successful outcome.
Another major investor is the Czech power company CEZ, which recently bought the Varna thermal power plant. The deal totalled 20 million euro. CEZ has engaged itself to invest a further 40 million euro over the next four years. The Russian RAO EES won the original tender. Its offer came to 192 million euro. After the Russian company decided to leave the deal, the Privatisation Agency continued negotiations with CEZ, the company ranking second after RAO EES. After the privatisation deal was concluded, CEZ requested a 6.9 per cent increase in electricity prices in Bulgaria.
Since 2001, the state has made several unsuccessful attempts to sell Bulgartabac Holding, its largest cigarette producer. In 2005 the company registered a 39.1 million leva net profit and a considerable economic-power growth. According to the adopted privatisation strategy, the holding will retain its profitable cigarette-making factories and will sell only the tobacco processing plants. The privatisation fate of the holding, however, remains unclear, as consultants to draft the necessary analysis for the conclusion of the deal have not yet been selected.
The Government has also started privatisation procedures for Bulgaria Air, the country’s flag carrier. The process is hindered by disagreements between the transport and economic policy parliamentary commissions on the privatisation strategy. A consultant company to monitor the conclusion of the deal has yet to be selected.
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Friday, May 16 2008
Expat of the Week
anglachanka
I like motorcycles, driving, rambling in the countryside, going to bazaars, relaxing in the sunshine ... read more
What`s on in Bulgaria
Theatre
Short Play for a Child’s Room What: The play resulted from a fortunate – and unlikely – encounter between director Galin Stoev and playwright Yana Borissova’s debut text. When: May 24 and 29 Where: Theatre 199
Valentine’s Day What: One of the most popular contemporary Russian playwrights, Ivan Vyrypaev has chosen for his play’s motto the words of an Arabian philosopher: “There are only two things – love and love.” When: May 22 Where: Little City Theatre off the Channel
Three Sisters What: Anton Chekhov’s Three Sisters is a play about the things that never happen and the sophisticated sadness and despair of the characters. When: May 21 and 30 Where: Nikolai Binev Youth Theatre
Lazarus and Jesus What: Based on Emilian Stanev’s apocrypha, Lazarus and Jesus aims to excite interest in the “damned questions” raised by the author and to argue against the assertion that Bulgarian literature is limited mostly to the regional and the untranslatably Bulgarian. When: May 18 Where: Sfumato Theatre-Workshop
16th International Istanbul Theatre Festival What: two weeks of theatre and dance performances from around the globe When: May 15 to June 4 Where: Istanbul
The Taming of the Shrew (premiere) What: Director Marius Kurkinski returns to the stage of the Satirical Theatre with this Shakespearean comedy, which was one of the master’s earlier plays. When: May 10, 19 and 26 Where: Aleko Konstantinov Satirical Theatre, Sofia
Cultural Institutes
Salon of the Arts What: The annual Salon of the Arts features tens of exhibitions, concerts and performances. For a complete programme, stop by the Ticket centre at the National Palace of Culture (NDK) When: May 11 to June 30 Where: National Palace of Culture, Sofia
Art
Sofia, Paris, Strasbourg What: A joint project by the National Academy of Arts in Sofia, the Ecole Superieure d’arts graphiques – Penninghen and the Ecole superieure des arts decoratifs, Strasbourg, focusing on the Cyrillic alphabet with a newspaper theme. When: Opens May 8 Where: Akademia, 1 Shipka Str, Sofia
ART POSITIVE 2008: FRAGMENT What: exhibition with the participation of 14 Plovdiv artists When: Until May 25 Where: Centre for Contemporary Art - Plovdiv arttoday.org
Live Music
KYLIE MINOGUE What: Indisputably, one of the major concerts in Bulgaria in 2008 will be that of pop icon Kylie Minogue. Ticket prices vary from 40 to 50 leva. When: May 18 Where: Lokomotiv Stadium
JAZZ PLUS FESTIVAL 2008 What: Jan Garbarek Group featuring Manu Katche, Alboran Trio, Roberto Fonseca, Luisito Quintero. Tickets at 20 and 25 leva, available from Dyukyan Meloman, Bulgaria Hall, NDK box office, eventim.bg and ticketstream.bg. When: May 15, 17, 18 and 29 Where: NDK, Bulgaria Hall and 4km Party Center
After Business Club What: weekly mixers When: Wednesdays, 8pm Where: Chillout Bar & Dinner, 5 Triaditsa Str
RONI SIZE DJ SET What: The Sofia gig of the world-famous drum ’n’ bass DJ Roni Size will be the first in a series of events presenting legendary performers from the global drum ’n’ bass scene. When: May 17 Where: Hristo Botev Hall in Studentski Grad
WORLD BEAT NIGHTS – DANCING AROUND THE GLOBE What: Three more World Beat Nights – Dancing Around The Globe parties will be held in May. When: May 16, 23 and 30. May 16: African Night, May 23: The Latino Friday and May 30: Arabian Night. Where: Club Pulse
expat news
Theatre
Cultural Institutes
Art
Live Music