DUBIOUS SALE HAS POTENTIAL TO SINK BULGARIAN AND CZECH GOVERNMENTS

EurActiv on 9th March reported that the Bulgarian and Czech governments are trembling because of the unfolding scandals surrounding a deal to sell the assets of ČEZ Bulgaria to an obscure private company with no experience. ČEZ is a Czech state energy giant in which pro-Russian President Miloš Zeman has a lot of sway.  On 22nd February, ČEZ officially announced the sale of its Bulgarian assets to the absolutely unknown Bulgarian company “Inercom Bulgaria”. The price for the purchase of the shares is €340 million, with which the buyer will acquire the business of supplying electricity to 40% of Bulgaria’s population.  The article says that the most problematic aspect of the scheme is the envisaged financing by offshore companies owned by a Russian-Georgian businessman with Bulgarian citizenship, Paata Gamgoneishvili, whose name appears in the Panama Dossier investigation.

https://www.euractiv.com/section/politics/news/trans-europe-express-dubious-sale-has-potential-to-sink-two-governments/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: