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First-ranked bidder backs out of Prva Petoletka purchase
Belgrade,
19 February 2009
The Serbian Privatisation Agency stated that the first-ranked bidder, Russia’s Bummas, declared it wants to withdraw from the contract to buy the capital of the hydraulics and pneumatics plant Prva Petoletka.
The statement adds that Bummas said the economic crisis is the main reason for the altered decision.
Bearing in mind that the first-ranked bidder has given up the contractual relations and thereby withdrew its bid submitted at the tender, the Privatisation Agency will retain the down payment, as prescribed by tender rules, and call the second-ranked bidder to close the sale contract.
The second-ranked bidder is a consortium comprising Lvivski Avtobusni Zavody from Ukraine and City Transport Construction Investments Ltd from Great Britain, adds the statement.
Bearing in mind that the first-ranked bidder has given up the contractual relations and thereby withdrew its bid submitted at the tender, the Privatisation Agency will retain the down payment, as prescribed by tender rules, and call the second-ranked bidder to close the sale contract.
The second-ranked bidder is a consortium comprising Lvivski Avtobusni Zavody from Ukraine and City Transport Construction Investments Ltd from Great Britain, adds the statement.
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