Slanchev Briag Holding AD announced it would appeal against the sale of Slanchev Bryag electricity distribution company to EVN of Austria, the holding's CEO Georgi Kogelov was quoted by Dnevnik business daily as saying on October 18.

Slanchev Bryag Holding is the largest minority shareholder in the electricity distribution company. For two years, it has been requesting two million leva in compensations for its shareholding's forfeiture.

The news comes days after EVN, the Privatisation Agency (PA) and the Agency for Post-Privatisation Control sealed an agreement in what had to serve as wrap-up of a three-year privatisation dispute. EVN and PA were at odds on parameters of the block sale of electricity distribution companies in Plovdiv, Stara Zagora and Bourgas.

According to the agreement, EVN was to drop charges filed at the International Court of Arbitration with the Paris-based International Chamber of Commerce. EVN sued the Bulgarian state for default on the privatisation agreement, namely in the part of the electricity distribution company in the resort. EVN requested 37 million euros in compensations.