Roseximbank started conducting due diligence at state-owned to be privatized Biochim Bank. Rosseximbank in consortium with Russia’s Mezhprombank will bid for the 99,6% state stake, which was offered for sale. The deadline for submitting offers for Biochimbank, Bulgaria’s fourth largest bank, has been extended to May 15, the Bank Consolidation Company announced last week. The term was extended by one month to give the candidates more time for due diligence. Bulgaria set a minimum price of BGN 95 M for Biochim and said potential bidders should be licenced banks with five years of experience or financial consortiums in which at least one shareholder should be a bank in October, 2001. Among the bidders that have already conducted due diligence or are about to complete it are Bank Austria, a division of HVB Group, a consortium of Bulgaria's Hebrosbank, owned by Hong Kong investment fund iRegent, and British-based Charlemagne Capital fund and local Rosseximbank in consortium with Russia’s Mezhprombank as well as the Commercial Bank of Greece.