Veliko Turnovo-based Toplofikatzia VT is among the 14 companies in the State, which will be sold on the stock exchange, was reported from PA. The stakes for sale and the investment mediator have not still been chosen. It is not certain how the change of the property will guarantee the social engagements of the heating stations, said the Executive Director of Toplofikatzia VT Mr. Krassimir Ignatov. Within a week the company is going to announce a procedure for public procurement in connection with the project for gasification of the station. According to preliminary calculations, the approximately amount of the project is BGN 1.2 million. It will be finance by the Ministry of Energetics and with own funds.
Source: Yantra - Veliko Tarnovo (08.04.2004)

The bidding for the Otkrit Vagledobiv (Open Coal Production) mines in Pernik is to take place today. The initial price is BGN 5.2 mln, and the bidding step – BGN 200 000. The guarantee for participation in the auction is in the amount of BGN 2.5 mln, but no candidate had bought documents until yesterday. PA is expected to announced competition for 5 heating companies – in Veliko Tarnovo, Lovech, Gabrovo, Pleven, and Bourgas. The consecutive auction for Pravetz-based heating company Toplofikatzia-Pravetz, is scheduled for August 17.
Source: Standart (27.07.2004)

Bulgaria's Privatisation Agency (PA) announced on Tuesday it will try to sell 100% of the heating utilities of Lovech, Bourgas, Pleven and Gabrovo and 98% of their counterpart in Veliko Tarnovo through publicly announced competitions. Candidate buyers will be invited to buy information memoranda within 30 days after the State Gazette runs a notice about the competition. In a separate motion the PA decided to once against try to sell the Pravets heating utility at a public auction on August 17. Bidding will start at 550,000 levs. A day earlier a tender will be staged for the heating utility of Razgrad with bidding starting at 700,000 levs. Another attempt will also be made to sell the Loznitsa heating utility for 55,000 levs even though the facility has failed to attract inventor interest so far. The government decided last week to transfer the ownership of the Bedek EAD heating utility free of charge to the Tryavna municipality where it is located. The PA has proposed to do the same with the district heating company in Samokov.
Source: Dnevnik (28.07.2004)

Preliminary offers for the competitions for sale of majority stakes in the heat supplying companies in Lovech, Bourgas, Pleven, Gabrovo, and Veliko Tarnovo, are to be submitted by 3 p.m. on October 7, 2004, Bulgaria’s Privatization Agency (PA) officially announced. The deadline for purchase of competition documentation is September 20, 2004. 100 per cent of the capital of companies based in Lovetch, Bourgas, Pleven, Gabrovo and 98 per cent of the one in Veliko Tarnovo are to be sold.
Source: Pari (11.08.2004)

Vratza-based Toploremontstroy TRS-94 LTD won the open-bid auction for the heating company in Pravetz, northwestern Bulgaria, raising the price to BGN 670,000, representatives of the Privatization Agency said. The initial price was set at BGN 550,000. This was the third attempt of the Privatization Agency to sell the heating company in Pravetz, after having opened an auction for it at an initial price of BGN 1.5 million in December 2002, when no investors showed interest. In May 2004 no investors turned up again, even though the price was reduced to BGN 840,000.
Source: Standart (18.08.2004)

Bulgaria’s Privatization Agency (PA) announced there were 19 candidate-buyers for the heating utility in Pleven, 19 for the heating utility in Bourgas, 10 for the heating utility in Gabrovo, 10 for the heating utility in Veliko Tarnovo, and 9 for the heating utility in Lovech. The deadline for submission of preliminary offers for the five companies expires on October 7. Boyana film has attracted eight potential investors.
Source: Standart (30.09.2004)

Austria's EVN that bought the Electricity Distribution companies in Plovdiv and Stara Zagora, submitted an offer for the Bourgas-based company Heat Supply. A total of 11 proposals for the company have been filed yesterday. The Heat Supply companies in Lovech (2 offers), Pleven (12), Veliko Tarnovo (5) and Gabrovo (5) are also to be sold on an auction. Overgas, Sigma Capital Energy, AKB Fores, Energoremont Holding are among the rest part of the applicants. The Dutch Burmeister & Wain Scandinavian Contractor BWSC A/C, the Italy-based Amga Azienda Multiservizi JSC, and the US company ACCESS Internation either also participate in the bid. The Privatization Agency (PA) is expected to specify the participants in the auctions’ final stages.
Source: Standart (08.10.2004)

A total of 35 preliminary offers were submitted in the competition for the sale of the heating uitlities in Lovech, Bourgas, Pleven, Gabrovo, and Veliko Tarnovo, Bulgaria’s Privatization Agency (PA) reported. The deadline for submission of offers expired yesterday. The candidates for 100 per cent from the capital of Toplofikatzia-Lovech were Energosnabdyavane Ltd., Shoumen, and Elit Group 2003 SP Ltd., Sofia. 11 companies competed for the heating company in Bourgas, and 12 – for the heating company in Pleven.The candidates for Toplofikatzia – Gabrovo are Terem Ltd., Energoremont Holding JSC, Sofia, Financial Industrial Concern AKB Fores, Sigma Capital Energy, and Top Group SP Ltd., Sofia. 5 candidates submitted offers of Toplofikatzia – Veliko Tarnovo.
Source: Pari (08.10.2004)

The criteria that will be used to sort out the 35 candidates for the privatisation of the district heating utilities based in Lovech, Bourgas, Pleven, Gabrovo and Veliko Tarnovo have pitted the Privatisation Agency (PA) against the energy ministry. The ministry is insisting that the candidates go through a prequalification round and that the grading of the technical aspect of their offers precede the unsealing of the financial parameters. In addition to the sell-off price and investment commitments, the energy ministry is insisting that the offers should also be rated in terms of the heating energy prices that will be charged on end-consumers. The idea is to limit investments that would hike the tariff for household consumers. Sources close to the sell-off said the PA is balking at the prequalification procedure and argues that the main judging criteria should be the price and the investment offers. All candidates will be allowed to submit a binding offer, PA executive director Atanas Bangachev said. The Bourgas and Pleven heating utilities have attracted the biggest number of bids. The 11 candidates to acquire the utility based in Bourgas include Czech-owned EnergoPro Bulgaria (the owner of the Koprinka and Sandanska Bistritsa hydro facilities), Austria's EVN and LM Impex. Access International of the U.S., Risk Engineering, AKB Fores, which recently bought the heating utility in Kazanlak, and Overgas will compete for the Pleven heating company. Two bids have been filed for the Lovech utility and five each for its counterparts in Gabrovo and Veliko Tarnovo. The highest bid - 10 mln levs, was filed by Overgas for the heating company in Bourgas. The gas distributor has also pledged 36 mln levs in investment. The lowest bid - 435,000 levs, was submitted by Energosnab for the utility in Lovech.
Source: Dnevnik (08.11.2004)

The price offered will be the most important criteria for ranking the bidders for Bulgaria's heating utilities in Bourgas, Pleven, Gabrovo, Veliko Tarnovo and Lovech, it emerged after the Privatisation Agency announced the rules for the final stage of the tender. The weight of the price in the final ranking will be 60%, PA CEO Atanas Bangachev explained. Only for the company in Lovech it will be 65%. Investment commitments and business plans will contribute 25%. The weight of the suggested heating price for consumers will be 10%, candidates' experience in the utility sector will also be taken into account. About a month ago, a total of 35 Bulgarian and foreign companies submitted tentative offers for the five heating utilities, which service 15% of the population. Final bids for the enterprises in Gabrovo, Veliko Tarnovo and Lovech will be accepted until November 26. The deadline for the companies in Pleven and Bourgas is December 20. Deposits for participation in the closing stage can be paid until November 11. Investors will be obliged to keep heating prices unchanged for two years. They will be only allowed to raise them if fuel prices jump. That, however, will be subject to approval by the energy regulator. The rights of consumers will be protected, Bangachev said. If the quality of the service is poor, the future owners will risk sanctions and may even be deprived of licence.
Source: Pari (09.11.2004)

15 companies will continue bidding for the heating utilities in Lovech, Bourgas, Pleven, Gabrovo, and Veliko Tarnovo. A total of 35 preliminary offers were submitted by 24 companies. There is big interest in the privatization of 100 per cent from Toplofikacia – Bourgas. Deposits were paid by Energo Pro Bulgaria, Finance Engineering – Targovishte, EVN AG – Austria, Overgas Holding, and NOVAS 2004
Source: Sega (15.11.2004)

The field of candidates for the privatisation of Bulgaria's district heating utilities based in Lovech, Bourgas, Pleven, Gabrovo and Veliko Tarnovo has been whittled down to 15 companies, Privatisation Agency (PA) said late last week after the expiry of the deposit deadline. A total of 35 indicative offers from 22 companies were submitted for the five heating utilities in October. The Bulgarian state will divest 100% of the Lovech, Bourgas, Pleven and Gabrovo utilities and 98% of the heating company in Veliko Tarnovo. Czech subsidiary EnergoPro Bulgaria - the owner of the Koprinka and Sandanska Bistritsa hydro facilities, Austria's EVN - which has just acquired the electricity distribution companies in Plovdiv and Stara Zagora, and Yambol-based Overgas Holding - which has already acquired the district heating company based in Razgrad, are competing for the Bourgas heating utility. Delta Com Holding, Risk Engineering, Metroni, France's Dalkia - which has applied to manage the Sofia district heating company, and Italy's A.M.G.A. - the holder of gas distribution licences for the Mizia and Dobrudja regions, are pursuing the acquisition of the Pleven heating utility. The heating company based in Gabrovo is eyed by Energoremont Holding, AKB Fores - the owner of the Kazanlak district heating company, and Topgroup. The race for the Veliko Tarnovo utility will be decided between Eco Energia Holding and Energoremont Holding. The heating company based in Lovech has attracted only one bid, from the company Elit 3000. The PA and the energy ministry have clashed over the judging criteria for the utility sell-off bids. The ministry was insisting that the heating supply tariff offered by the respective candidate should be the main judging criterion but the agency said last week that the cash bid and investment plans will be given the weightiest marks.
Source: Dnevnik (15.11.2004)

Several intermediary companies and a construction company are expected to submit documents for the first three heat-supply companies sold by the Privatization Agency (PA). The deadline for submission of documents expires at 2 p. m. on Friday. Energoremont Holding, AKB Fores, and Top-Group LTD filed indicative offers for the heating utility in Gabrovo. Eco Energia Holding and Energoremont Holding submitted preliminary offers for the heating utility in Veliko Tarnovo.
Source: Sega (24.11.2004)

Sofia-based Energoremont Holding, former privatisation fund AKB Fores HJSC-Sofia and Top Group SP Ltd.-Sofia filed binding offers for the 100 per cent privatisation of the district heating utility based in Gabrovo ahead of the Nov 26 deadline. Binding offers for a 98 per cent stake in the Veliko Tarnovo heating utility have been submitted by Dimitrovgrad-based Eco Energia Holding and Energoremont Holding. No buyer fancied the Lovech heating utility. Due to keen investor interest, the bid receipt deadline for the heating utilities based in Bourgas and Pleven has been extended to Dec 20.
Source: Dnevnik (29.11.2004)

Bulgaria's Privatisation Agency (PA) named Top Group SP Ltd. as the winner of the tender for 100 per cent of the heating utility in Gabrovo. The buyer will pay BGN 958,000 and will invest BGN 850,000 in upgrade. Winner of the procedure for 98 per cent of the heating utility in Veliko Tarnovo is Ecoenergia Holding. The company offers BGN 696,000 for the stake and pledges to invest BGN 1.2 million. The PA opened a public open-bidding auction for 100 per cent of the heating company in Pravets. Bidding will start from BGN 250,000, increments are set at BGN 20,000.
Source: Pari (03.12.2004)

Ecoenergy Holding won the auction for the sale of 98 per cent of the capital of Heat Supply-VT SPJSC - Veliko Tarnovo. The Privatization Agency elected the Dimitrovgrad-based company to buy 1 172 774 shares of the Veliko Tarnovo heat supply company. Energoremont Holding JSC – Sofia was ranked second.
Source: Yantra - Veliko Tarnovo (03.12.2004)

The five candidates for the central heating company in Bourgas coastal city offer from BGN 6 to 16 million, which is 6 to 16 times more as compared with what has been paid in the privatization of other central heating companies here. The company based in Gabrovo was sold off for BGN 958,000, the one in Veliko Tarnovo - for BGN 696,000, in Loznitsa - for BGN 55,000, in Pravets - for BGN 670,000 and in Razgrad - for BGN 500,000. The most attractive offer for the Bourgas-based company is believed to be that of Austrian EVN, offering a price of 5 million euros plus investments amounting to BGN 43 million. The offer also provides for an average price of BGN 54.12 per megawatt/h for subscribers, VAT excluded. The price of BGN 15.9 million, offered by Finance Engineering - Targovishte is the highest one. BGN 21.5 million are slated for investments and the projected price per megawatt/h for subscribers is BGN 42. Energo Pro Bulgaria offers BGN 6 million, other BGN 19.2 million in investments and BGN 40 per megawatt/h for subscribers. Overgas Holding, which bought off the Razgrad-based central heating company, offers BGN 10.85 million, BGN 36.1 million in investments and BGN 49.76 per megawatt/h for subscribers. NOVAS 2004 - Sofia is ready to pay BGN 15.126 million, to make investments amounting to BGN 42 million and BGN 39.85 per megawatt/h for subscribers. Now it is the turn of the Privatization Agency to shortlist the bidders and single out the winner.
Source: Standart (21.12.2004)