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Sat, May 26 2012
State sell-off plan set
The Council of Ministers decided last Thursday that next year the Privatization Agency (PA) would privatize seven power distributing companies, 20 heating utilities and seven thermoelectric power plants.
This was included in the 2002 privatization program which the government approved at its regular meeting on Thursday.
Economy Minister Nikolai Vassilev said after the meeting that an influx of 618.5 million leva in privatization proceeds are expected for the consolidated national budget in 2002. Approximately 200 million leva should be received from the sale of companies operating in communications. Proceeds from the privatization of energy sector companies are projected at 51 million leva.
The Kozlodui Nuclear Power Plant will not be privatized next year. There will be no sale of companies that are part of the electricity transmission system, nor of those engaged in gas transiting, the transport infrastructure, the territorial cadastre, geodesy, water supply and sewage. The sales of Boyana Film - Sofia, Bulgartabac Holding, the Vazov Mechanical Engineering Works - Sopot (the military plants), the Bulgarian River Shipping Company, Navigation Maritime Bulgare and Sunny Beach company will have to be approved by the government.
Government approval will also be required for the sale of Maritsa Iztok 1 thermoelectric power plant (a self-contained part of the National Electric Company) and the thermoelectric plants Maritsa Iztok 2 and 3, Varna and Bobovdol. The list includes seven power distribution companies - the ones operating in Sofia, Sofia Region, Pleven, Stara Zagora, Gorna Oriahovitsa, Varna and Plovdiv.
The Bulgarian Telecommunications Company (BTC) will be sold with the approval of the government and Parliament. According to Vassilev, and other members of the government, the privatization of the BTC is considered the most important deal.
There is a possibility that Deutsche Bank could be able to finalize the strategy for the sale of the BTC ahead of the original two-month deadline. Transport and Communications Minister Plamen Petrov made the announcement on Tuesday at the opening of a conference of the Trade Union Federation of Telecommunications with the Confederation of Independent Trade Unions in Bulgaria.
On November 8, the Privatization Agency hired Deutsche Bank as consultant in the sale. The bank will draft a sales strategy, an updated appraisal, an information memorandum, a legal analysis, and will prepare the sale documentation.
"Two months is a lot of time, and I hope Deutsche Bank will be able to beat that deadline," Petrov said. However, he added that the consultant should not be pressured into hastily putting together the sales strategy.
"We will try to honour our employment commitments but we also have to face the reality of the market economy," Petrov said, in connection with the upcoming personnel cuts at the BTC. "If the telecommunications industry is not revived and all existing problems solved, the entire workforce of that sector could hit streets."
This was included in the 2002 privatization program which the government approved at its regular meeting on Thursday.
Economy Minister Nikolai Vassilev said after the meeting that an influx of 618.5 million leva in privatization proceeds are expected for the consolidated national budget in 2002. Approximately 200 million leva should be received from the sale of companies operating in communications. Proceeds from the privatization of energy sector companies are projected at 51 million leva.
The Kozlodui Nuclear Power Plant will not be privatized next year. There will be no sale of companies that are part of the electricity transmission system, nor of those engaged in gas transiting, the transport infrastructure, the territorial cadastre, geodesy, water supply and sewage. The sales of Boyana Film - Sofia, Bulgartabac Holding, the Vazov Mechanical Engineering Works - Sopot (the military plants), the Bulgarian River Shipping Company, Navigation Maritime Bulgare and Sunny Beach company will have to be approved by the government.
Government approval will also be required for the sale of Maritsa Iztok 1 thermoelectric power plant (a self-contained part of the National Electric Company) and the thermoelectric plants Maritsa Iztok 2 and 3, Varna and Bobovdol. The list includes seven power distribution companies - the ones operating in Sofia, Sofia Region, Pleven, Stara Zagora, Gorna Oriahovitsa, Varna and Plovdiv.
The Bulgarian Telecommunications Company (BTC) will be sold with the approval of the government and Parliament. According to Vassilev, and other members of the government, the privatization of the BTC is considered the most important deal.
There is a possibility that Deutsche Bank could be able to finalize the strategy for the sale of the BTC ahead of the original two-month deadline. Transport and Communications Minister Plamen Petrov made the announcement on Tuesday at the opening of a conference of the Trade Union Federation of Telecommunications with the Confederation of Independent Trade Unions in Bulgaria.
On November 8, the Privatization Agency hired Deutsche Bank as consultant in the sale. The bank will draft a sales strategy, an updated appraisal, an information memorandum, a legal analysis, and will prepare the sale documentation.
"Two months is a lot of time, and I hope Deutsche Bank will be able to beat that deadline," Petrov said. However, he added that the consultant should not be pressured into hastily putting together the sales strategy.
"We will try to honour our employment commitments but we also have to face the reality of the market economy," Petrov said, in connection with the upcoming personnel cuts at the BTC. "If the telecommunications industry is not revived and all existing problems solved, the entire workforce of that sector could hit streets."
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Appointments
Employment Agency
Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.
Uniqa
Gloria Dimitrova has been appointed executive director and member of the managing board at Uniqa Life Insurance Bulgaria. Dimitrova began her career in 1998 at the insurance supervision directorate, but moved to the private sector and worked for professional services and insurance brokerage firm Marsh&McLennan and US insurer AIG, both in Bulgaria and the Middle East. She joined Uniqa as regional director for Sofia in 2010. Dimitrova has a degree in economics from the University for National and World Economy in Sofia and a master's degree in insurance from the Business Academy in Svishtov.
Kamenitza
Yassen Lyubenov is the new head of marketing at Bulgarian beer brewer Kamenitza. Lyubenov has 12 years of experience in marketing in the fast-moving consumer goods sector and has started his career as assistant brand manager at Kraft Foods Bulgaria. He later became brand manager at Wrigley Bulgaria, with responsibilities for Bulgaria and Macedonia. Prior to joining Kamenitza, he was senior marketing manager at Wrigley Russia, where he was in charge of brand expansion into Ukraine, Belarus, Central Asia and the Caucasus. Lyubenov has a bachelor's degree in international business administration from the University of Lincoln, UK.
Beiersdorf
Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.
Hewlett-Packard
Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.
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