Japan Tobacco Inc., KT&G May Bid for Bulgartabak, Dnevnik Says

Japan Tobacco Inc., the world’s third-largest cigarette maker, and KT&G Corp., South Korea’s biggest tobacco producer are interested in buying Bulgartabak Holding, Dnevnik online reported.

The two companies along with a Czech and a British investment funds, have expressed interest to take part in a tender for the sale of Bulgaria’s dominant tobacco company, the Sofia-based website said, citing unnamed sources at the Privatization Agency.

The asset-selling agency has yet to decide whether to sell the 80 percent stake in Bulgartabak on the Bulgarian Stock Exchange or in a tender, Dnevnik said. Citigroup Global Markets Inc. was picked a year ago to advise the government on its fourth attempt in a decade to sell Bulgartabak later this year,

To contact the reporter on this story: Elizabeth Konstantinova in Sofia at ekonstantino@bloomberg.net.

To contact the editor responsible for this story: James Gomez at jagomez@bloomberg.net

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