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BT Invest is offering to pay €100.1m for the stake of Bulgarian tobacco group Bulgartabac 

The sole remaining bidder for 79.8% of Bulgarian tobacco group Bulgartabac Holding, BT Invest, is offering to pay €100.1m for the stake, but it remains unclear whether the Austrian-registered candidate linked to Russia's state-controlled banking group VTB will be the final owner.

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Bulgaria: JTI, КТ&G, Philip Morris Eye Bulgaria's State Tobacco Giant  

"The buyer of Bulgartabac will be known in September," the Executive Director of the Agency for Privatisation Control Emil Karanikolov said at a press conference on Tuesday. Photo by Sofia Photo Agency

Korea's КТ&G, Japan Tobacco International, Philip Morris and a few financial investors have declared interest in the privatization of Bulgaria's state cigarette producer Bulgartabac Holding, according to the consultant of the deal.

A majority stake - 79,83% - in Bulgaria's state cigarette producer Bulgartabac Holding, whose management has been harshly criticized in recent years, was put on sale on Tuesday after years of procrastination.

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Minister Warns 

The minister of Health in the Buganda government, Robert Ssebunya,has called upon the youth to desist from smoking because it could shorten their lives.

He was speaking at a one-day workshop on Youth and Smoking at Makerere University Business School, June 2.

He said smoking has killed more people than Aids.

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