Moldovan tobacco company under privatisation status

11:06 | 25.01.2019 Category: Economic

Chisinau, 25 January /MOLDPRES/ – Over 90 per cent of state shares in S.A. Tutun – CTC were privatised by I.C.S. Le Bridge Corporation Limited S.R.L. at the total price of MDL 167.7 million. The sale – purchase contract was concluded on 11 January 2019. The announcement was made by the Public Property Agency (APP).

Besides the amount of over MDL 167 million that came to the state budget (BS), the buyer of the shares also paid other taxes and tariffs established by the legislation.

According to the sale – purchase contract, the buyer of the state shares has undertaken to develop and make efficient the activity of the Company by action of implementing the technologies and introducing modern machines. Also, the buyer pledged to maintain the activity profile and trademarks and maintain the number of jobs of qualified staff.

The commercial contest following which S.A. Tutun – CTC was privatised took place during the privatisation round announced on 12 October 2018.

I.C.S. Le Bridge Corporation Limited, S.R.L. is a company founded in 1998.

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.