Bulgarian cigarettes maker Bulgartabac confirms interest to buy Bosnian peer.

By bne IntelliNews November 12, 2012
Bulgarian cigarettes manufacturer Bulgartabac sent a letter of intent confirming its interest in the acquisition of Bosnias Banja Luka-based Fabrika Duvana, news agency Srna reported, quoting PM Aleksandar Dzombic. Bulgartabac vows to continue production and keep workers if agreement is reached, Dzombic said, adding that the RS government will do everything possible to prevent job losses and to guarantee continuity of production in the factory. In September, Bosnias Serb Republic government announced Bulgartabac was interested in acquiring Fabrika Duvana and that officials of the Bulgarian company were expected to carry out all necessary evaluations and examine the state of the production capacities and facilities at Fabrika Duvana. Bosnian firm Antonic Trejd bought 55% of Fabrika Duvana Banja Luka in September 2006 for BAM 2.1mn (EUR 1.1mn). In October 2011, the government launched a legal procedure asking for compensations of BAM 4.3mn and termination of privatization contract as the company faced heavy losses and liquidation.

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