ECONOMY

Sofia cancels Technoexportstroy sale

Bulgaria canceled the sale of state-run builder Technoexportstroy EAD on Tuesday after failing to find buyers, the Privatization Agency in Sofia said on its website.

Greek builder Ellaktor SA and two Bulgarian companies bought tender documents last month and did not apply for the auction which was scheduled for May 2, according to the asset-selling agency.

Bulgaria set a minimum price of 68 million lev ($46.4 million) for the design, engineering and construction company that built factories and utilities in Africa and the Middle East.

[Bloomberg]