Q:
A:
Contract of sale of Putnik from Belgrade cancelled
Belgrade,
14 July 2005
The Serbian Privatisation Agency stated today that the contract of sale of the socially-owned company Putnik from Belgrade was cancelled.
The buyer, Uniworld Holdings Ltd, registered in California, has not submitted the second guarantee of $7.3 million within the additional deadline set by the sales contact.
By signing the contract, the buyer assumed precisely defined obligations, the disrespect of which entails consequences that might lead to the canceling of the contract. Therefore, due to the unfulfilled obligations, the Contract on the sale of socially-owned capital of the Putnik company through public tender was declared null and void, the Privatisation Agency said in the statement.
The statement concludes that the company’s capital will be transferred to the Serbian Share Fund, which will appoint a provisional director to the company.
By signing the contract, the buyer assumed precisely defined obligations, the disrespect of which entails consequences that might lead to the canceling of the contract. Therefore, due to the unfulfilled obligations, the Contract on the sale of socially-owned capital of the Putnik company through public tender was declared null and void, the Privatisation Agency said in the statement.
The statement concludes that the company’s capital will be transferred to the Serbian Share Fund, which will appoint a provisional director to the company.
-
Kostolac, 14 July 2025First solar power plant Petka in Kostolac put into trial operation
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans