Q:
A:
Deadline extension sought to pay full purchase price of RTB Bor
Belgrade,
25 February 2008
The Serbian Privatisation Agency stated today that on February 21 it received a request from the consortium comprising of A-Tec Minerals & Metals Holding GmbH, A-Tec Industries AG and Montanwerke Brixlegg AG from Austria, the first-ranked bidder for the tender sale of RTB Bor, for an extension of the deadline for paying the purchase price until April 4.
The Agency granted the extension to the buyer, on condition that it pays $150 million by February 29.
In case that this amount is not paid by February 29, the final deadline for paying the full purchase price is March 14.
Submitting a performance guarantee to the amount of $60 million is one of the preconditions for closing the transaction. It can be submitted any time before the transaction is closed.
Upon submitting the bid, the buyer submitted a tender guarantee worth $10 million, in line with tender requirements.
In case that this amount is not paid by February 29, the final deadline for paying the full purchase price is March 14.
Submitting a performance guarantee to the amount of $60 million is one of the preconditions for closing the transaction. It can be submitted any time before the transaction is closed.
Upon submitting the bid, the buyer submitted a tender guarantee worth $10 million, in line with tender requirements.
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