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Russia/Bulgaria: Lender VTB sees interest in tobacco stakes

By  |  February 13, 2014

Russian bank VTB has reportedly received a bid for its majority stake in tobacco firm Bulgartabak, based in Bulgaria.

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    Russia’s second-largest bank won a tender for the 79.8 percent stake in the tobacco company in 2011 in a $136 million deal.

    Now, Bulgaria’s Commission for Protection of Competition announced Thursday that it has been notified of Livero Establishments’ interest in acquiring the shares from VTB, who owns the tobacco company through its Austria-based BT Invest.

    Both the bank and the tobacco firm declined to comment on the matter, however.

    Full Content: Reuters

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