Bulgarian Power Co NEK Seeks to Hire Financial Services Providers

Bulgarian state-owned electricity company NEK invited candidates to file bids for seven contracts for provision of financial services, it said in a tender notice.

Each candidate can file a bid for only one contract, NEK said in a procurement notice posted on its website on Monday.

Bids must be submitted no later than February 10.

In May 2013 the Bulgarian government approved new regulations capping the net exposure of majority state-owned companies to a single lender at 25% of the company's total cash assets. The regulations aimed to improve the management of the state companies' funds, to ensure the diversification of financial resources and to curb the risks stemming from the concentration of exposures.

Source: SeeNews