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For a total sum of over 140 million dinars, majority capital in public enterprises Zlatibor from Cajetina, catering-tourist company Golubac from Arilje, Montaza from Belgrade, Zavod Za Poljoprivredu Loznica from Loznica and textile factory Diork in Kragujevac were sold.
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Belgrade, May 24, 2002 - Development of the auction privatization in Serbia received additional stimulus today with the sale of 70 percent of the capital in five state-owned enterprises at the second public auction, held at the Yugoslav Chamber of Commerce.
For a total sum of over 140 million dinars, majority capital in public enterprises Zlatibor from Cajetina, catering-tourist company Golubac from Arilje, Montaza from Belgrade, Zavod Za Poljoprivredu Loznica from Loznica and textile factory Diork in Kragujevac were sold.
"We are on a good track in carrying out privatization under the envisaged regime… with another 200 auctions by the end of the year," said Serbian Minister of Economy and
Privatization Aleksandar Vlahovic. "I invite domestic entrepreneurs and private investors to take maximum advantage of the process of public and transparent
privatization by auction, as well as the current management or employee shareholder groups in companies being
privatized, because this process impacts them above all."
A majority share in agricultural estate Zlatibor from Cajetina was bought by businessman Radisav Acimovic from Cajetina, for a sum of 69.14 million dinars. Golubac from Arilje was bought by Arilje-native businessman from Toronto Vladan Bogdanovic for 28.02 million dinars, who was driven by his wish to bring his two sons and daughter back to Serbia. Bogdanovic said that the state of the company he bought is chaotic, and he said he plans to make a photographic record of this so that he can show the comparison once the situation
stabilizes.
"I think that I will have to invest a lot more money in this company than what I paid for it to put the company back together," Bogdanovic said.
Belgrade-based Montaza was bought by its general director Miomir Pajkovic and a group of his partners for 34,864,000 dinars. There were two potential buyers at the auction.
Pajkovic said that he has spent 33 years in the firm, 23 of which at its head, surviving even the most difficult times. His driving motivation was to step up the quality of the firm's work.
Zavod Za Poljoprivredu Loznica from Loznica was bought by economist Miodrag Ilic for the New Belgrade private company Mobit for only 190,000 dinars. Mobit exports fruit, and the purchase of the Loznica combine producing raspberries and blackberries was a natural choice.
Slobodan Pantic from Badnjevac bought the Diork textile factory in Kragujevac for 13.61 million dinars.
The revenues from today's auction will go to the Serbian budget. Although a call for auction of another nine companies was announced, the Auction commission and the Agency for
privatization said that conditions for privatization of the firms have not yet been solidified.
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