The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Tobacco Products Manufacture Of Tobacco Products 12 - Manufacture of tobacco products
280 jobs Number of planned job creations
Announcement Date
2 May 2005
Employment effect (start)
1 May 2005
Foreseen end date
Description
Bulgartabac Holding is the biggest Bulgarian state-owned cigarette-producing firm in Bulgaria. After the changes in the country in 1989 none of the governments succeeded to privatise it. The current government has made last unsuccessful attempt in December 2004. This led to discrepancies in the ruling political coalition, one effect was the retirement of the vice-prime minister, directly responsible for the transaction and changes in the government. Bulgartabac Holding is still state-owned and is selling some of its smaller parts as the case here with its division in Isperih. The new owner of the Isperih division - firm Iceberg-Beihan Sopen - has bought 89.50 % from the equity and will employ 280 people.
Eurofound (2005), Iceberg - Beihan Sopen, Business expansion in Bulgaria, factsheet number 61565, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61565.
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