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Sales contract of Gosa FOM signed
Belgrade,
12 September 2005
The Serbian Privatisation Agency stated today that Serbian Privatisation Agency representatives, a consortium of physical entities and the “Koks” enterprise from Russia, signed a sales contract, on September 9, on the purchase of 71.02 percent of the capital of the Gosa factory of equipment and machines (Gosa FOM), from Smederevska Palanka.
This contract obliges the buyer to pay €4.01 million for the capital that is the subject matter of the agreement, to invest €3.5 million in the enterprise during the following five years, and to comply with a binding social programme, which prohibits the firing of redundant employees in the next three years. The buyer is also obliged to initially increase employee salaries by 10 percent and to pay out to shareholders, in the form of dividends, a minimum of 20 percent of one year’s profit.
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