Bankrupt engine maker IMR offered for sale

The bankrupt engine maker IMR Rakovica has been put up for sale as a legal person for RSD 2.93 billion (EUR 24.8 million).

Source: Tanjug
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(Photo: IgorVetushko/Depositphotos)
(Photo: IgorVetushko/Depositphotos)

The Bankruptcy Supervision Agency has scheduled a sale for May 31, by which time written bids may be submitted.

IMR property in the Belgrade suburb of Rakovica consists of seven production halls with 15 machinery plants and seven warehouses totaling 75,000 square meters, 1,600 sq m hotel, an administrative building, infrastructure facilities and the IMR Institute.

The company's property also includes a separate production complex in the Cajetina municipality, western Serbia, as well as the entire equipment of an engine and tractor plant and receivables.

The appraised value is not the minimum acceptable price - if only one bid is submitted, the bankruptcy administrator is bound to accept it if exceeds 50 percent of the appraised value.

In case it is below 50 percent, a decision on the bid will be made by the board of creditors.

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