Q:
A:
New offer for RTB Bor to be contemplated
Belgrade,
7 April 2008
The Serbian Privatisation Agency stated that on April 4 at several minutes before midnight, it received a new offer by the first-ranked bidder for RTB Bor.
The statement adds that the offer submitted by the consortium comprising A-TEC Minerals & Metals holding GmbH, A-TEC Industries AG and Montanwerke Brixlegg AG implies an instant additional payment of $320 million, which would, together with the previous $150 million, total $380 million.
The offer also includes the increase of the tender guarantee by $5 million, so that it now totals $15 million, as well as an immediate payment of $60 million as a guarantee that the work will be properly carried out.
The offer by the first ranked bidder implies the payment of the remaining portion of the sale price of $86 million by May 7 this year at the latest.
Bearing in mind the importance of the RTB Bor Group for Serbia’s economy and the complexity of the situation, the Privatisation Agency will initiate a meeting of the board for supervision and implementation of the action plan for restructuring and privatisation of RTB Bor Group, to which representatives of the RTB Bor leadership and of all RTB Bor unions will be invited.
The board should decide whether to accept A-TEC’s offer and then draft a proposal which will be sent to the government, to be discussed at its next session on April 10.
The Supervisory Board is chaired by Minister of Economy and Regional Development Mladjan Dinkic, and its members are Minister of Energy and Mining Aleksandar Popovic, Minister of Finance Mirko Cvetkovic, Minister of Environmental Protection Sasa Dragin, Minister of Labour and Social Policy Rasim Ljajic and Director of the Privatisation Agency Vesna Dzinic.
The offer also includes the increase of the tender guarantee by $5 million, so that it now totals $15 million, as well as an immediate payment of $60 million as a guarantee that the work will be properly carried out.
The offer by the first ranked bidder implies the payment of the remaining portion of the sale price of $86 million by May 7 this year at the latest.
Bearing in mind the importance of the RTB Bor Group for Serbia’s economy and the complexity of the situation, the Privatisation Agency will initiate a meeting of the board for supervision and implementation of the action plan for restructuring and privatisation of RTB Bor Group, to which representatives of the RTB Bor leadership and of all RTB Bor unions will be invited.
The board should decide whether to accept A-TEC’s offer and then draft a proposal which will be sent to the government, to be discussed at its next session on April 10.
The Supervisory Board is chaired by Minister of Economy and Regional Development Mladjan Dinkic, and its members are Minister of Energy and Mining Aleksandar Popovic, Minister of Finance Mirko Cvetkovic, Minister of Environmental Protection Sasa Dragin, Minister of Labour and Social Policy Rasim Ljajic and Director of the Privatisation Agency Vesna Dzinic.
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