Four offers were submitted yesterday for the purchase of 76% in Golden Sands Resort. These include Kapsi Tours OOD of Sofia, Dobrich-based Zlatni Privat 21, a corporate association between Zlatni AD, Agrima AD of Sofia and German Condor & Neckermann Touristik, and Demex Corporation. Memorandums for participation in the privatisation deal were initially bought by 16 companies. The negotiations with potential buyers will begin as soon as possible. Criteria in the talks will be a fair price offer, management capacity, and investment commitment. A condition for participation in the second round of the competition is the payment of a 10% deposit on the price offered. The state owns a 96.81% stake in Golden Sands. So far, 59 hotels, which used to form part of the company's assets, have been denationalised as self-contained parts. Early estimates set the company's 1999 profit before tax at BGN 23 million