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A:
Sole bid for Kikinda foundry accepted
Belgrade,
19 May 2004
The commission in charge of the privatization of Kikinda’s foundry Livnica has accepted the sole bid in the tender, placed by the Slovenian automotive firm CIMOS. The commission complied with a recommendation from the Serbian Privatisation Agency to start negotiations with CIMOS on an acquisition deal that will oblige the prospective buyer to accept Livnica’s restructuring plan.
The Privatisation Agency said in a statement yesterday that it will set up a commission to handle direct talks with CIMOS, given that there was only one bidder in the tender.
Livnica is currently in the process of restructuring, which obliges the prospective buyer to accept the restructuring programme, as stipulated by a government decree that regulates restructuring procedures of enterprises and other legal persons.
Livnica is currently in the process of restructuring, which obliges the prospective buyer to accept the restructuring programme, as stipulated by a government decree that regulates restructuring procedures of enterprises and other legal persons.
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