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The Government of the Republic of Serbia

In the service of citizens

Bids ranked for “Napredak” of Stara Pazova

Belgrade, 3 November 2005

The Serbian Privatisation Agency said in a statement today that the tender commission for the sale of 70 percent of the socially-owned capital of the joint-stock agricultural company “Napredak” of Stara Pazova, has accepted the tender list at its second session held on November 1, according to which the firm “Delta M” from Belgrade has been announced as the top ranked bidder, “Veterinarski Zavod” from Zemun the second-ranked, “Setuza” from the Czech Republic as the third-ranked and the Consortium “MK Komerc” from Novi Sad and “Agroreforma” from Belgrade as the fourth-ranked bidders.

The first ranked bidder “Delta M” has accepted the asking price of €7.8 million, an investment programme worth €12 million as well as all minimal demands of the social welfare programme.

After announcing the tender list, the Serbian Agency for Privatistion and “Delta M” are to enter a period of negotiations concerning definition of the details of the sales contract of the capital of “Napredak” and in case of a successful conclusion to negotiations, the Serbian Agency for Privatisation will sign a final contract with the buyer within a period of 30 days from the first day of negotiations.

The tender commission was led by Serbian Deputy Minister of Agriculture, Forestry and Water Management for the legal and general administration sector Alexander Todorovic, as representative of the republic, and the commission included the general director of “Napredak” Radislav Plecas as representative of the company being privatised, expert associate in the Ministry of Agriculture, Forestry and Water Management Lucija Dujovic, president of the syndicate of “Napredak” Katarina Balaz, and the public legal defense lawyer of the Stara Pazova municipality Verica Lekic as representative of local self-government according to the seat of the company being privatised.