The Serbian Privatisation Agency said in a statement today that the tender commission for the sale of 100% of the socially-owned capital of HIP Azotara from Pancevo, unanimously accepted the tender list at its second session held on March 9. According to the list, the consortium of legal entities Univerzal-Holding from Belgrade, UAB ARVI from Lithuania and Joint Lithuanian-USA Venture Sanitex also from Lithuania was announced the top ranked bidder.
Agrofert Holding from the Czech Republic was announced the second ranked, whereas Hungary's Nitrogenmuvek fertiliser manufacturer the third ranked bidder.
Basic elements of the offer of the first ranked bidder include a purchase price of €13.1 million, an investment programme worth €30 million and unconditional compliance with minimum requirements of the social welfare programme.
Bids for the purchase of 100% of the socially-owned HIP Azotara fertiliser company were also submitted by a consortium of legal entities Farmakom MB from Sabac and Sojaprotein from Becej, as well as by Nitrogenmuvek and Emfesz from Hungary and Agrofert Holding from the Czech Republic.
After the analysis of the submitted documentation, the Agency decided that Emfesz did not fulfill the conditions stated in the tender.
On March 8, the offer of the consortium Farmakom MB-Sojaprotein was declared invalid.
After announcing the tender list, the Serbian Agency for Privatisation and the first ranked consortium are to enter a period of negotiations to finalise the details of the sales contract. If the negotiations are concluded successfully, the Agency will sign the final contract with the buyer within the prescribed period.