Bidders emerge for Bulgarian border operator

Tina Milton

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Transimpex and Sofcom are among nine companies interested in acquiring Kalotina-Balkantourist

Duty-free operators Transimpex and Sofcom and distributors Duty-Free Ltd and Agrosoft are among nine companies set to bid for the Bulgarian duty-free store Kalotina-Balkantourist, RavenFox.com can reveal. The parties have acquired documentation for the tender, enabling them to bid at the public auction.

But Bulgaria Duty Free Association chairman Radostin Genov told RavenFox.com that the process might not be straightforward. "Regulations state that every company which loses the tender can appeal against the decision," Genov explained.

The deadline for submitting bids is March 14, 35 days after the official publication of the tender. State-owned Kalotina-Balkantourist has the licence to operate one duty-free store on the Bulgaria/Serbia border and was released for public auction earlier this month.

Reports indicate that the starting bid for 100% of its share capital will be Lev360,000 ($240,000). The bidding increment is Lev20,000 ($13,333) and the bid security is Lev100,000 ($66,666).