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State retains ice cream stake

This article was originally published in Foodnews

THE Bulgarian state has decided not to sell its minority stake in a Bulgarian ice cream company owned by Nestlé. According to Novinite.com, state-run LB Bulgaricum EAD will not sell its 10.86% stake in Nestlé Ice Cream Bulgaria on the Bulgarian Stock Exchange, the Sofia-based Privatisation Agency said on 13 December, without making clear what prompted the decision. The government launched a bourse auction on 14 December, with shares in 29 other companies up for sale, in an attempt to boost public revenues by around BGN80 million (USD54.56 million).

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