Sugar mill sold for one euro

Philip Zepter has bought the Zrenjanin sugar mill for the price of one euro.

Izvor: B92

Friday, 09.11.2007.

17:14

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Philip Zepter has bought the Zrenjanin sugar mill for the price of one euro. The authorities explained this move by saying that the sugar refinery was not operational for full three years, with workers left without wages for two years, and that even giving the factory away gratis was a better solution than the status quo, especially if the buyer were to start production. Sugar mill sold for one euro The tender commission told daily Blic that Zepter, a Serbian entrepreneur born Milan Jankovic, beside the one euro he paid, also undertook it to carry out an investment program worth EUR 5.7mn, and keep the 230 workers employed for the next 12 months. The state earlier wrote off all of the mill's debt in the restructuring process that preceded the tender. The record in token prices paid in tenders in Serbia has so far been three euros, also in a sugar mill acquisition. Miodrag Kostic of MK Commerce bought three factories for three euros each. But, in defense of Kostic, EM Online reports that experts have calculated that "three euros is still 200 percent more than one euro."

Sugar mill sold for one euro

The tender commission told daily Blic that Zepter, a Serbian entrepreneur born Milan Janković, beside the one euro he paid, also undertook it to carry out an investment program worth EUR 5.7mn, and keep the 230 workers employed for the next 12 months.

The state earlier wrote off all of the mill's debt in the restructuring process that preceded the tender.

The record in token prices paid in tenders in Serbia has so far been three euros, also in a sugar mill acquisition.

Miodrag Kostić of MK Commerce bought three factories for three euros each. But, in defense of Kostić, EM Online reports that experts have calculated that "three euros is still 200 percent more than one euro."

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