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Sofia's Municipal Bank tender attracts only one bid
December 6, 2017 / 12:14 PM / 7 days ago

Sofia's Municipal Bank tender attracts only one bid

SOFIA, Dec 6 (Reuters) - Bulgaria’s privatisation agency received just one bid for a 67.65 percent stake in Municipal Bank from Liechtenstein’s Novito Opportunities, it said in a statement.

Municipal Bank, controlled by Sofia Municipality, is the 15th largest bank in the European Union’s poorest country, central bank data showed.

Sofia City Council in July put Municipal Bank on a list of companies set for privatisation after the bank successfully passed the central bank’s stress tests. A previous attempt to sell the bank failed in 2014.

On offer are 3,880,388 shares for a minimum total price of 45.65 million levs ($27.60 million).

Novito is part of the Liechtenstein-based investment company CAIAC Fund Management AG.

$1 = 1.6539 leva Reporting by Angel Krasimirov; editing by Jason Neely

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