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Agreement on NIS privatisation advisor signed
Belgrade,
12 January 2006
Serbian Minister of Energy and Mining Radomir Naumov and representative of the Consortium Merrill Lynch-Raiffeisen Investment Scott Lewis signed today an agreement on the Consortium's official appointment as privatisation advisor to the Serbian oil industry (NIS).
Scott Lewis and Radomir Naumov
Naumov said that the signing of the agreement is the final stage of the entire last year's process of preparing the Serbian oil sector for privatisation.
The Consortium Merrill Lynch-Raiffeisen Investment is a winner of the public bidding for the privatisation advisor. This Consortium offered the lowest price, asking a fixed fee of €900,000 for consultation services and a 1.2 percent compensation for successfully completed work.
Six consortiums of renowned world companies offered bids at the tender, and the appointment of the NIS privatisation advisor is a condition for the conclusion of the current financial arrangement with the International Monetary Fund (IMF) and a write-off of $700 million of Serbia's debt to the Paris Club of Creditors.
The signing of the agreement was also attended by Serbian Minister of Economy Predrag Bubalo.
The Consortium Merrill Lynch-Raiffeisen Investment is a winner of the public bidding for the privatisation advisor. This Consortium offered the lowest price, asking a fixed fee of €900,000 for consultation services and a 1.2 percent compensation for successfully completed work.
Six consortiums of renowned world companies offered bids at the tender, and the appointment of the NIS privatisation advisor is a condition for the conclusion of the current financial arrangement with the International Monetary Fund (IMF) and a write-off of $700 million of Serbia's debt to the Paris Club of Creditors.
The signing of the agreement was also attended by Serbian Minister of Economy Predrag Bubalo.
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