Bulgartabac Holding Group - stock exchange privatization of a 12.8% stake (2003)


BULGARTABAC Holding Group (BTH) is one of the leading tobacco companies in Central and Eastern Europe. The structure of the Holding includes tobacco buying, processing and leaf trade, manufacturing and export of cigarettes, research and development.

12.8% of BTH shares (part of the Dream Pool) were sold in June 2003 against a payment of EUR 40.5mn in compensatory instruments.

Acting on assignment by the Privatization Agency Bulbrokers Consulting together with UBB and NBGI prepared legal and financial due diligence of BTH, strategy for the shares offering, marketing and investor road shows and successful placement of the shares on the stock exchange.

The transaction represents the first successful and largest sale in tobacco sector since the mass privatization.