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Economy Ministry to address problems of Vrsacka Pivara, Vrsacki Vinogradi
Vrsac,
4 November 2004
Serbian Minister of Economy Predrag Bubalo said that his ministry will address the problems of the Vrsacka Pivara brewery and the Vrsacki Vinogradi winery over the next two months, in a move that will also help improve the local economy.
Bubalo recalled that the Serbian Privatisation Agency launched a tender for the sale of a 70 percent stake in Vrsacki Vinogradi in late 2001, but noted that a Delta Holding-led consortium, the only prospective bidder to have purchased tender documents, has shelved its acquisition plans after nearly a year and a half of negotiations.
The government took over a 91.1 percent stake in Vrsacki Vinogradi after swapping the company's €14.4 million debt for state-held equity in December 2003.
The government took over a 91.1 percent stake in Vrsacki Vinogradi after swapping the company's €14.4 million debt for state-held equity in December 2003.
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