Diamant deal to be revised

The deal for Bulgarian glass producing plant Diamant should be revised, regional prosecutor Elena Hadjidimitrova said in a recent letter addressed to the Privatisation Agency. Magistrates have been ca…

The deal for Bulgarian glass producing plant Diamant should be revised, regional prosecutor Elena Hadjidimitrova said in a recent letter addressed to the Privatisation Agency. Magistrates have been carrying out checks of the deal for the plant for two months now. The economic police have also been involved. Diamant was sold through mass privatization in 1996. In 1997, the remaining 26% stake of the glassware maker was sold to the management-employee buyout Diamant Prima. Recently the management-employee buyout said it could not pay its instalments under the deal. In the meantime the plant stopped operating because of BGL 9.0 million debts accumulated to Bulgarian gas monopoly Bulgargas.