Bulgaria Tries Again To Sell Shipyard

Friday, February 25, 2000
Bulgaria opened a new tender for an 80 percent stake in the state-owned shipyard in the second biggest Black Sea port of Bourgas and set a March 15 deadline for bids. An agency spokesperson said the agency would not set a minimum price in negotiations with potential investors, but would require a deposit of $400,000. The buyer would also be required to keep the shipyard's core business running for minimum three years, implement a business plan over the same period and propose a plan for settling the company's debts.

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