According to the Sofia News Agency, on 12 May 2006 Consortium Subev & Co, teamed up with Euro-finance and Balkan Consultant Company, was picked to be consultant of the sale procedure of Bulgaria's tobacco monopoly Bulgartabac, out of the three consortia that had submitted bids for consulting Bulgartabac’s privatisation procedures.

The selected consultant is due to prepare analyses, required for the sale of the bigger part of the holding member-companies, except for the tobacco making plants based in Sofia, Blagoevgrad, Plovdiv, Stara Zagora and Pleven. The programme for restructuring and privatisation of Bulgartabac made known earlier this year includes an offer for sale of seven Bulgartabac plants by the end of 2006. The deadline for the tobacco monopoly restructuring is set for July, Hristo Lachev, Bulgartabac executive director is reported to have revealed. Mr Lachev also said that the privatisation of the tobacco monopoly should be quick and transparent, which, to his mind, could happen only through the stock exchange. (vt)