Serbia: Tender for the Sale of Matroz Fails

7. März 2007, 00:00

The Serbian Privatisation Agency announced Tuesday that the Tender Commission which monitored the implementation...

The Serbian Privatisation Agency announced Tuesday that the Tender Commission which monitored the implementation of the public tender for the sale of a 97.04-per-cent stake in cellulose and paper manufacturer Milan Stepanovic Matroz a.d. - currently in restructuring - has passed a decision to declare the tender annulled.

The announcement further states that the Tender Commission decided to declare unsuccessful the negotiations with the only bidder in the tender, the Austrian company Pulp Mill, which were initiated in January. The announcement of the Serbian Privatisation Agency does not specify the reason why the negotiations failed.

In addition to the Pulp Mill, the tender documentation was also purchased by a private citizen Michael Diechand from Austria, but he did not submit a legally-binding bid within the deadline stipulated in the terms of the tender.

This was the third attempt at selling Matroz in a public tender. The company currently employs approximately 2,000 workers.

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