Sunday, October 28, 2007

Ten potential buyers for Robne Kuce Beograd

Belgrade, Oct 26, 2007 – The Serbian Privatisation Agency stated that on October 29, ten foreign and domestic companies will bid for the department stores company Robne Kuce Beograd, in bankruptcy.

According to the agency, the starting price is €140 million, and bidding will be held at the Hyatt Hotel, beginning at 11 am.

Due to major public interest, the bidding will be broadcast live on the second channel of the Radio Television of Serbia. A three member committee for public auctions of the agency will be in charge of the bidding.

Within seven days from the day when the auction is held, the buyer will be obliged to seek consent from the committee for competition protection and in case of a positive response the buyer will be obliged to pay within seven days of being informed of the decision at the latest.

The decision on the sale of the common debtor as a legal entity was brought at the session of the committee of creditors of the company Robne Kuce Beograd on August 24 in 2006, and the sale was announced on July 27 this year.

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