State calls RTB Bor partner tender

A tender for the selection of the strategic partner for the RTB Bor has been published in the Belgrade daily Politika on Saturday. State Secretary at the Ministry of Economy and Regional Development Nebojsa Ciric said previously that the tender would be open to potential investors by January 30, 2009. State calls RTB Bor partner tender The strategic partner will be the owner of the two-third majority of the RTB Bor copper mines and smelter and it will have to invest a minimum of USD 300mn of investments through capital increase. At the same time, the state looks to convert its claims at the amount of EUR 500mn into capital and will remain the minority owner of the RTB for at least five years, Ciric said. He said by January 30 it will be known whether the formally expressed interest of 11 potential strategic partners in the prequalification round would result in a concrete offer. The state investment in the works will be its assets, the strategic partner will own 67 percent and the state will retain the right of blocking the decisions it disagrees with for at least five years, Ciric said. The state will certainly not sell its 33-percent ownership share in the company within this period, the state secretary said and added that the company that offered the largest amount of money for investing in the production of copper, new smelting works and environment would win the tender. After two failed tenders, Serbia in July published the prequalification tender for the selection of the strategic partner, to which 11 companies applied.

State calls RTB Bor partner tender

The strategic partner will be the owner of the two-third majority of the RTB Bor copper mines and smelter and it will have to invest a minimum of USD 300mn of investments through capital increase.

At the same time, the state looks to convert its claims at the amount of EUR 500mn into capital and will remain the minority owner of the RTB for at least five years, Ćirić said.

He said by January 30 it will be known whether the formally expressed interest of 11 potential strategic partners in the prequalification round would result in a concrete offer.

The state investment in the works will be its assets, the strategic partner will own 67 percent and the state will retain the right of blocking the decisions it disagrees with for at least five years, Ćirić said.

The state will certainly not sell its 33-percent ownership share in the company within this period, the state secretary said and added that the company that offered the largest amount of money for investing in the production of copper, new smelting works and environment would win the tender.

After two failed tenders, Serbia in July published the prequalification tender for the selection of the strategic partner, to which 11 companies applied.