Bulgaria is divesting an 80 percent stake in tobacco company Bulgartabak Holding for €100.1 million, Bloomberg reports. The holding will be acquired by BT Invest, a unit of Russian bank VTB. Bt Invest was the only bidder for the stake after British American Tobacco withdrew from the competition. The buyer has to keep its stake for the next five years and maintain the number of employees at 2,400 over the next three years. It also committed to buying 5,000 tons a year of locally grown tobacco over the next five years.
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