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Sales contract for Robne Kuce Beograd signed
Belgrade,
5 November 2007
Representatives of the Serbian Privatisation Agency and company Verano Motors signed today the contract on the sale of insolvent department store chain Robne Kuce Beograd as a legal person.
The Agency says in a statement that the department store chain Robne Kuce Beograd was sold at a public auction on October 29 at the Hyatt Regency Hotel for €360 million.
Verano Motors was the only company to bid the stated price. The second-ranked bidder was Edelweiss Investment SA from Switzerland.
The deadline within which Verano Motors must receive consent of the Committee for the Protection of Competition expires today and the buyer must pay the sales price within 30 days from the day of the public auction.
However, if the buyer does not receive consent of the Committee within 30 days from the day of the auction, Verano Motors must pay the sales price within seven days from the day it receives the consent, and within 120 days from the day of the auction at the latest.
Verano Motors was the only company to bid the stated price. The second-ranked bidder was Edelweiss Investment SA from Switzerland.
The deadline within which Verano Motors must receive consent of the Committee for the Protection of Competition expires today and the buyer must pay the sales price within 30 days from the day of the public auction.
However, if the buyer does not receive consent of the Committee within 30 days from the day of the auction, Verano Motors must pay the sales price within seven days from the day it receives the consent, and within 120 days from the day of the auction at the latest.
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