The Privatization Agency and Dalka International endorsed a agreement for the sale of District Heating Company Varna

The Privatization Acency and Dalkia International – France endorsed a temporary agreement – France for 39 648 shares representing 100% of the capital of District Heating Company Varna JSC after the preliminary requirements for the transfer were fulfilled.

With this the French company becomes the owner of the shares and the privatization procedures are completed.

The finalization of the deal became possible after the approval of the The Commission for Protection of the Competition in terms of concentration of economic activity and after the final payments were made.

The purchasing price of the shares was EUR 6.78 mln which was transferred to the account of The Privatization Agency.

Under the terms of the contract the purchaser is not entitled to transfer company’s shares, the rights or liabilities of the contract or to decrease the capital to under51 % in the next three years unless an approval from the Agency for Post-Privatization Control has been granted.

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