Zastava: Genex arrests have no impact
A former Genex director arrested yesterday, was also Zastava Group head of managing board, it has transpired.
Thursday, 04.10.2007.
16:51
A former Genex director arrested yesterday, was also Zastava Group head of managing board, it has transpired. Now the Kragujevac-based group's General Director Zoran Radojevic says that the arrest will in no way influence the privatization process of the Kragujevac automaker or the coming tender. Zastava: Genex arrests have no impact Radojevic told the local media Thursday that Milorad Savicevic's arrest was "not connected to Zastava itself," adding that the president of the managing board performed his duties "gratis, on a volunteer basis," for which he said there was "written proof." Savicevic was arrested Wednesday along with four other former Genex executives on suspicion of abuse of office and embezzlement of some EUR 20mn. "Bearing in mind all we have done so far in order to make Zastava more attractive to buyers we expect a successful privatization," Radojevic said, pointing out that several companies have shown interest. "There is a legal obligation not to discuss the potential buyers," he said, and added there should be patience until the tender, announced for December, has in fact been called. Radojevic repeated that the tender to sell the factory fell under the jurisdiction of the Privatization Agency. Economy Minister Mladjan Dinkic said earlier that at least five companies, among them Ford, GM, Fiat, Indian Tata and some Chinese firms, all expressed interest so far.
Zastava: Genex arrests have no impact
Radojević told the local media Thursday that Milorad Savićević's arrest was "not connected to Zastava itself," adding that the president of the managing board performed his duties "gratis, on a volunteer basis," for which he said there was "written proof."Savićević was arrested Wednesday along with four other former Genex executives on suspicion of abuse of office and embezzlement of some EUR 20mn.
"Bearing in mind all we have done so far in order to make Zastava more attractive to buyers we expect a successful privatization," Radojević said, pointing out that several companies have shown interest.
"There is a legal obligation not to discuss the potential buyers," he said, and added there should be patience until the tender, announced for December, has in fact been called.
Radojević repeated that the tender to sell the factory fell under the jurisdiction of the Privatization Agency.
Economy Minister Mlađan Dinkić said earlier that at least five companies, among them Ford, GM, Fiat, Indian Tata and some Chinese firms, all expressed interest so far.
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