The company Le Bridge Corporation Limited acquired the state's share in the Chisinau tobacco factory Tutun-CTC (90.806%) for 167 million 761 thousand lei (8.63 million euros).
According to the Public Property Agency, the sales contract was signed on January 11, 2019, the entire amount, which includes taxes and fees, has already been paid to the state budget. According to the terms of the contract, the buyer is obliged to “develop and improve the efficiency of the company's activities through the introduction of technologies and the use of modern technologies; to maintain the profile of the activity and the trademark Tutun-CTC; save the number of jobs and ensure the safety of work; apply legislation in the field of environmental protection and restrictions in this area, specified by the state. ” Recall that the state’s share in Tutun-CTC was offered for sale by a single property complex at a commercial tender organized by the Public Property Agency at the end of 2018. The initial sale price of the state's share in Tutun-CTC was 165.7 million lei. Earlier, in 2016, the state’s share in Tutun-CTC was unsuccessfully offered for sale on the Stock Exchange. The company Le Bridge Corporation Limited specializes in the distribution of various goods in Moldova and owns a network of duty free shops. The right to develop the chain of duty free stores Le Bridge received in 2008. Le Bridge Duty Free stores are located in the main border points of the country: Leuseni, Sculeni, Cahul, Giurgiulesti, Costesti, Mirnoe, Soroca, Cosauti, as well as at Chisinau International Airport. The company is an active member of the Association of Foreign Investors of Moldova. Le Bridge Corporation Limited is owned by French citizen Franck Charles Arif. As InfoMarket agency learned, the new owner of Tutun-CTC will develop the company's core business, including the export of its products. Recall, Tutun-CTC is one of the largest enterprises in Moldova, a joint-stock company was established in 1998 on the basis of the Chisinau tobacco plant. Tutun-CTC produces more than 20 cigarette brands, many of which are well known not only in Moldova, but also abroad. The company employs an average of 215 employees. The average salary at the enterprise last year amounted to 8520 lei. According to the financial statements of the company, the net profit of the Chisinau tobacco factory Tutun-CTC in 2017 amounted to 13.3 million lei, decreasing by 10.7% compared with 2016 (14.89 million lei). The company's sales for the period decreased by 4.7% - from 140.4 million to 133.8 million lei, and cost of sales - by 14.5% - from 99.76 million to 85.27 million lei. In 2017, the selling expenses of the company increased from 5.51 million to 11.53 million lei (more than 2 times), while administrative expenses decreased by 4.2% and amounted to 12.03 million lei. The long-term tangible assets of Tutun-CTC in 2017 decreased by 2.8% from 127.3 million to 123.7 million lei, and current assets decreased by 3.4% from 275.9 million to 266, 6 million lei. In general, the assets of the company declined from 403.2 million to 390.4 million lei (-3.2%). The authorized capital of JSC Tutun-CTC is 111.82 million lei - 5.59 million shares with a nominal value of 20 lei each. A package of 90.806% of the company's shares is owned by the state, the remaining shares are owned by another 592 other shareholders. It is worth noting that, according to the Public Property Agency, JSC Tutun-CTC is a shareholder of five other companies: FinComBank (0.6%), Moldova Agroindbank (0.23%), CTC-Coroana LLC - 100%, Flueraș recreation center (Koblevo , Ukraine) - 100% and in 33% in LLC Tutun-Alimcom. Chisinau tobacco enterprise owns a real estate area of 91 thousand square meters, as well as an adjacent land plot of about 22.5 hectares. According to APP, as of October 1, 2018, the enterprise had no debts to the budget.// 24.01.2019 — InfoMarket.