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The Government of the Republic of Serbia

In the service of citizens

Serbian Privatisation Agency holds 150th public auction

Belgrade, 28 July 2005

The Serbian Privatisation Agency organised the 150th public auction today, selling eight socially-owned enterprises for a total of 689.337 million dinars.

Rasko Moskovljevic bought Beograd, Belgrade-based, for 40 million dinars, up from the initial price of 11.025 million dinars.

Saranjski Ribnjak Zivaca, from Boljevci, was sold to Dusan Stupar for 67 million dinars, up from the starting price of 16.956 million dinars.

Miroljub Aleksic is the new owner of Autopromet, from Nis, with the purchase price of 76 million dinars, up from the starting price of 19.019 million dinars.

Ljubica Jovicic bought Jugocentar, from Belgrade, for 300 million dinars, up from the starting price of 163.982 million dinars.

Bigz Publishing, from Belgrade, was bought by Nova Skolska Knjiga, Belgrade-based, in a second bidding, at the starting price of 48.121 million dinars.

Dragan Maksimovic bought, on behalf of a consortium, Gradjevinar project, from Nis, at the starting price of 24.401 million dinars. United Diar enterprise, from Belgrade, bought Mlekara, from Pirot, in the second bidding, at the starting price of 24.401 million dinars.

Nenad Popovic bought the Minel electric equipment and installations firm at the starting price of 124.686 million dinars.

The auctions of Kooperativa from Belgrade, Bozo Tomic from Cacak, Zastava Kovacnica from Kragujevac, 26. Septembar-Metal from Krupanj, Zastava Promet Kragujevac from Kragujevac, Juzna Morava from Vladicin Han, Crveni Signal Pancevo from Pancevo, and UMI-PEK from Leskovac were all unsuccessful.

The Serbian Minister of Economy Predrag Bubalo and Serbian Privatisation Agency Director Miodrag Djordjevic attended today’s 150th public auction of socially-owned enterprises.

The Serbian Privatisation Agency announced today that in the three-year privatisation process in Serbia, more than 1,500 enterprises with a majority of socially-owned capital have been privatised.

From April 3, 2002, when the first public auction was held by the Serbian Privatisation Agency, 1,180 enterprises have been privatised through auction, with an 80 percent success rate.

This manner of selling of socially-owned enterprises, regulated by the Law on Privatisation, and precisely defined by the decree on sale of capital and property by public auction, has been successful and shown numerous examples of positive results.

The Serbian Privatisation Agency put forth several examples of successful transactions through auction: Zorka boje from Sabac, Panteks from Sremski Karlovci, PZP Nis from Nis, Metalac from Kladovo, Besko from Vlasotince, Sanitarija from Novi Sad, HIV Vranje from Vranje, Obnova from Ada, Hanplast from Vladicin Han, Termika-Beograd from Belgrade, Trivit Pek from Vrbas, Centroprojekt ISK from Belgrade, Slobodametal from Obrenovac, Elektrosumadija from Mladenovac, Silos Jakovo from Jakovo, Royal Hotel from Belgrade, Mlekara from Sabac, Inos Metali from Belgrade, Napredak from Mali Zvornik, Jedinstvo from Vranje, Hotel Park from Novi Sad, Telefonservis from Belgrade, Metalum from Novi Sad, Calma from Calma, UTVA Milan Premasunac from Kacarevo, Radnik from Backa Palanka, and Konstruktor from Pancevo.

Most of the buyers at the public auctions are from Serbia and Montenegro, and foreign buyers, such as Fibest from Italy, which bought Ateks from Belgrade, Alas International from Austria, which bought Zorka nemetali from Sabac, Alpin Group AG from Switzerland, which bought the Copper pipe factory from Majdanpek, Livad DD from Slovenia, which bought Zastava foundry from Topola, Italsvenska SPA from Italy, which bought Dunav from Apatin, Cofiger from France, which bought MIN Holding-Skretnice from Nis, as well as others, also participated in the privatisation process.

The setting up of public auctions of 150 to 200 enterprises is expected by the end of the year, and some of the more attractive enterprises to be privatised by public auctions are Tehnopromet, Junior, Hotel Nacional, BIGZ, and the Industry of Precise Mechanics, all from Belgrade.

According to the statement, from the very beginning these public auctions have been very closely followed by the media, including both domestic and foreign journalists. From 2003 to 2004 public auctions could be followed on TV, while today direct coverage is presented on the internet, at the agency’s official site www.priv.yu

The Serbian Privatisation Agency will continue to carry out this complex process, part of the most significant economic system reforms, reads the statement and concludes that in the period ahead, privatisation will contribute to Serbian industrial development by strengthening the private sector, with positive results expected for all citizens.