Bulgaria's govt chooses bank to deposit EUR 47.6mn cash from EVN stake sale.

By bne IntelliNews January 11, 2012
The State Consolidation Company has called a tender to select a bank to deposit BGN 93mn (EUR 47.6mn), cashed from the sale of the 33% state stake in the power distributor EVN at the end of December, Money.bg informs. All interested banks may submit bids by January 18, 2012. The term of the deposit will expire on May 30, but banks offers should include an option for extending the agreement with similar conditions for deposits from BGN 50mn to BGN 200mn. The increase of the amount may result from the sale of the minority state stakes in the other two power distributors E.ON and CEZ. The State Consolidation Company was set up in 2010 to sell the minority stakes of the state in some companies.
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