Dresdner, CAIB to advise Bulgari on tobacco sale

Article Abstract:

CAIB of Austria, the investment-banking unit of Bank Austria Group, and Dresdner Kleinwort Benson of London, UK, have been contracted by the Privatization Agency of Bulgaria to develop within six months a privatization strategy for Bulgartabak Holding, a tobacco company. The two banks have likewise been tasked to look for a strategic investor that will develop tobacco production as well as carry out the company's expansion in Russia and other former Soviet republics. The privatization of Bulgartabak Holdings, one of Bulgaria's leading exporters, is part of the country's move to divest most of its big state-owned properties.

Comment:

Is contracted by the Privatization Agency of Bulgaria to develop a privatization strategy for Bulgartabak Holding

Asset sales & divestitures, Contracts & orders received, Tobacco, Tobacco Farming, Bulgaria, Dresdner Kleinwort Benson, Bulgartabak Holding, Bank Austria Group

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Moody's places ratings of BBV under review

Article Abstract:

Moody's Investors Service Inc. announced that it placed Banco Bilbao Vizcaya SA's (BBV) ratings under review. Moody's said it might downgrade the bank's Aa2 long-term debt and deposit ratings, its aa3 preferred stock rating, and its B+ financial-strength rating. BBV's short-term obligations are not being reviewed. They were confirmed at Prime-1. According to Moody's, about $4 billion in debt securities were affected by the review.

Comment:

Moody's Investors Service Inc. places Banco Bilbao Vizcaya SA's (BBV) ratings under review

Financial analysis

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BBV will spend 102.2 million euros to upgrade its computers for Y2K

Article Abstract:

Banco Bilbao Vizcaya SA (BBV) announced that it is planning to spend as much as 17 billion pesetas (102.2 million euros) in order to upgrade its computers for the year 2000. BBV is said to spending approximately 2 billion pesetas in Spain to prepare for the Y2K bug. The remaining funds are being utilized for the bank's operations around the world. BBV is also upgrading its computer systems in Latin America.

Comment:

To spend 17 billion pesetas (102.2 million euros) to upgrade computers for Y2K

Capital expenditures, Banking industry, Investments, Year 2000 transition (Computers), Bank investments

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