Five companies in race for RTB Bor
A deadline to acquire tender documents in the RTB Bor privatization has expired; five companies will compete.
Saturday, 06.10.2007.
18:14
A deadline to acquire tender documents in the RTB Bor privatization has expired; five companies will compete. The eastern-Serbian copper mining and processing giant announced Saturday that East Point, owned by Zoran Drakulic, Strike Force, a company representing Oleg Deripaska, Austrian's Brixlegg, Russian Solvay and Vedanta Resources from India, will now be submitting their bids to buy the company. Five companies in race for RTB Bor The final offers will be accepted by October 31. The lowest bid the Privatization Agency will accept has been set at USD 340mn. The tender looks to sell exploitation rights, a copper refinery, and assets owned by two mines that are a part of RTB, located in Bor and Majdanpek, as well as the smelting facilities. The future owner will also have to invest at least USD 180mn, and accept social program obligations pertaining to future redundancies. The first tender was declared invalid in April, when Romanian Cuprom offered USD 400mn for the company, but later withdrew from the deal after failing to secure banking guarantees.
Five companies in race for RTB Bor
The final offers will be accepted by October 31. The lowest bid the Privatization Agency will accept has been set at USD 340mn.The tender looks to sell exploitation rights, a copper refinery, and assets owned by two mines that are a part of RTB, located in Bor and Majdanpek, as well as the smelting facilities.
The future owner will also have to invest at least USD 180mn, and accept social program obligations pertaining to future redundancies.
The first tender was declared invalid in April, when Romanian Cuprom offered USD 400mn for the company, but later withdrew from the deal after failing to secure banking guarantees.
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