Managing Board of Serbian Oil Company Adopts Proposed Privatisation Strategy

16. Juni 2006, 00:00

The Managing Board of the Serbian Oil and Gas Company (NIS) has discussed and accepted the privatisation strategy...

The Managing Board of the Serbian Oil and Gas Company (NIS) has discussed and accepted the privatisation strategy drafted by privatisation advisors Merrill Lynch and Raiffeisen Investment.

The board will send its approval to the working group of the Serbian government for the coordination of the privatisation advisors work.

The Managing Board also adopted a report on drafting of a programme for improving NIS business operations, which is drafted in cooperation with company Shell, and a report on the implementation of the business-information system SAP.

These activities will significantly improve NIS operations and will raise the companys value prior to privatisation. The Managing Board stated that successful privatisation represents a chance for development, modernisation and improvement of NIS regional market position.

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