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International tender for NIS privatisation to be announced by end October
Belgrade,
5 October 2006
Serbian Minister of Energy and Mining Radomir Naumov said today that the international tender for the privatisation of the Serbian Oil Industry (NIS) will be announced by the end of October, and added that events regarding the Constitution and elections should not prolong the privatisation process.
In a statement to the news agency Tanjug, Naumov pointed to the fact that it is most important that the strategic partner of NIS is a company or a consortium of companies which deals exclusively in the production, processing and distribution of oil products.
He said that this is the right moment to privatise the Serbian oil company because the demand for energy is high, and NIS is the only company in the region which has not entered the privatisation process.
The Minister expressed expectation that the response to the tender will be good, and added that NIS is not as attractive for international giants as it is for regional companies.
According to Naumov, the basics for optimal privatisation are that NIS remains a national and regional company with European standards of, production, vertically integrated, guaranteeing Serbia’s development and economic progress.
Naumov said that during the first phase of privatisation of NIS, the strategic partner will not have a majority stake in the company but will increase their ownership percentage through recapitalisation and investments.
He said that during the previous few years the energy sector has been reformed as a whole, and companies are reorganised and prepared for privatisation, as well as for the energy market which is being formed.
He said that this is the right moment to privatise the Serbian oil company because the demand for energy is high, and NIS is the only company in the region which has not entered the privatisation process.
The Minister expressed expectation that the response to the tender will be good, and added that NIS is not as attractive for international giants as it is for regional companies.
According to Naumov, the basics for optimal privatisation are that NIS remains a national and regional company with European standards of, production, vertically integrated, guaranteeing Serbia’s development and economic progress.
Naumov said that during the first phase of privatisation of NIS, the strategic partner will not have a majority stake in the company but will increase their ownership percentage through recapitalisation and investments.
He said that during the previous few years the energy sector has been reformed as a whole, and companies are reorganised and prepared for privatisation, as well as for the energy market which is being formed.
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