424 of privatizations terminated in Serbia

Since 2002, 424 privatization deals have been terminated in Serbia, accounting for about 23 pct of the total number of companies sold in tenders and auctions. This is according to a statement from the Privatization Agency, issued on Tuesday. 424 of privatizations terminated in Serbia According to the privatization data sent to Beta news agency, 108 companies were sold in tenders and contracts with 21 buyers were terminated due to their failure to meet contract terms. Of the 1,717 companies that were auctioned off, the privatization deals for 403 companies were terminated. The most frequent reason for contract annulment is failure to meet contractual obligations concerning investments and the implementation of the social program, as well as the cessation of production, failure to pay the purchase price and sale of company property. The Privatization Agency said that the property of 134 companies, whose sale deals had previously been abolished, were sold on the Belgrade Stock Exchange, bringing a revenue of EUR 60.4mn. The revenue made from the auctioning of companies amounted to EUR 1.1bn, with privatization deals totaling EUR 286.6mn terminated, the agency added. A total of 2,504 Serbian companies were sold in tenders, auctions and on the stock market for EUR 2.9bn, the agency said.

424 of privatizations terminated in Serbia

According to the privatization data sent to Beta news agency, 108 companies were sold in tenders and contracts with 21 buyers were terminated due to their failure to meet contract terms.

Of the 1,717 companies that were auctioned off, the privatization deals for 403 companies were terminated.

The most frequent reason for contract annulment is failure to meet contractual obligations concerning investments and the implementation of the social program, as well as the cessation of production, failure to pay the purchase price and sale of company property.

The Privatization Agency said that the property of 134 companies, whose sale deals had previously been abolished, were sold on the Belgrade Stock Exchange, bringing a revenue of EUR 60.4mn.

The revenue made from the auctioning of companies amounted to EUR 1.1bn, with privatization deals totaling EUR 286.6mn terminated, the agency added.

A total of 2,504 Serbian companies were sold in tenders, auctions and on the stock market for EUR 2.9bn, the agency said.