Hemus wins Bulgaria Air

SOFIA (AP) -The government yesterday said it has chosen Balkan Hemus Group, a Bulgaria-based holding company, as the winning bidder in the privatization of the country’s flag carrier, Bulgaria Air. Balkan Hemus Group, which already runs a small airline, Hemus Air, will pay 13 million leva ($6.6 million) for 99.9 percent of the shares of Bulgaria Air, the government press office said in a statement. The buyer also pledged to invest $82 million in the airline over the next five years. The government will retain a golden share to influence crucial decisions such as takeovers.

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