Belgrade, Oct 29, 2007 – Insolvent department store chain company Robne Kuce Beograd has been sold today at a public auction for €360 million to Verano Motors, owned by Radomir Zivanic from Belgrade.
Ten domestic and foreign companies took part in the auction held today at the Hyatt Regency Hotel. The initial price was €140 million.
Almost 240,000 square metres of office space, that is, a total of 34 department stores, was offered on sale, including department stores in Belgrade as well as Bijelo Polje, Subotica, Kikinda, Vranje, Pirot, Uzice, Backa Topola, Nis, Vrsac, Bor, Zrenjanin and other towns.
In order to take part in the bidding, the prospective buyers had to submit bank guarantees of €44 million and to purchase tender documentation whose price was €7,000.
The documentation was purchased by nearly 40 potential participants.
The Serbian Privatisation Agency issued an advertisement on the sale of this insolvent company as a legal entity on July 27 this year.
Showing posts with label Beograd. Show all posts
Showing posts with label Beograd. Show all posts
Monday, October 29, 2007
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.
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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