May 22 (SeeNews) - Bulgarian telecommunications company BTC, which operates under the Vivacom brand name, has completed the sale of the landmark Telephone Exchange building in central Sofia, real estate consultancy Forton said.
The six-storey building which covers 17,401 sq m has been sold to the highest bidder, local real estate company NG Property, for an undisclosed price, Forton, which is a strategic partner of Cushman&Wakefield for Bulgaria and Macedonia, said in a statement on Friday.
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The two-tier tender procedure started at the beginning of March and non-binding offers were submitted by April 12. The second stage of the auction which comprised anonymous bidding was held on April 19.
"The telephone exchange will be home to unique exhibits and collections in the field of art and the world's cultural and historical heritage. Plans will be publicly presented in 2017," NG Property, fully owned by Sofia-based gambling company New Games, said in the statement.
The sale is in line with BTC's policy of divesting non-core assets.