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Privatisation law to be amended
Belgrade,
13 October 2008
Serbian Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic has stated that the government will examine amendments to the law on privatisation during the upcoming week. The amendments aim to make it possible for potential buyers to purchase management rights in a socially owned company for 30% of the company’s sale price.
In a statement to the e-magazine EMportal, Dinkic explained that buyers will be able to pay the remainder in installments over a period of five years. He added that the state will charge interest, and the buyer will get ownership rights following the payment of the last installment.
He said that this will mean that the top bidder at the tender will not get ownership rights after signing the sale and purchase agreement, but upon the payment of the last installment, which in practical terms is the same as purchasing through lease.
Participants in privatisation so far partly financed the purchase with bank loans, but banks are now cautious because of the global financial crisis, which is why we will adopt a completely new model enabling the completion of privatisation as planned, the Minister stressed.
He said that this will mean that the top bidder at the tender will not get ownership rights after signing the sale and purchase agreement, but upon the payment of the last installment, which in practical terms is the same as purchasing through lease.
Participants in privatisation so far partly financed the purchase with bank loans, but banks are now cautious because of the global financial crisis, which is why we will adopt a completely new model enabling the completion of privatisation as planned, the Minister stressed.
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