News

JAT Tehnika sold to Czech company Avia Prime

Friday, 29. Nov 2019.

At the proposition of the commission for the execution of the procedure of public collection of bids with public bidding, the Ministry of Economy adopted the decision on November 26, 2019, whereby the Prague-based company Avia Prime was pronounced the purchaser of a 99.3834% stake in JAT Tehnika.

The application deadline for the purchase of the sales documentation was November 6, 2019. Two companies applied, SR Technics from Switzerland and Avia Prime from the Czech Republic, which was then the only one to apply for taking part in the procedure.

Avia Prime: We will turn JAT Tehnika into a world-class company

Avia Prime is the 100%-owner of Adria Tehnika from Slovenia and Linetech from Poland. Once the transaction is finalized, this aircraft MRO company will be able to offer 34 positions for aircraft maintenance to airline carriers and operators.

– We thank the Government of the Republic of Serbia for this opportunity and for carrying out this demanding process. We will put maximum effort into turning JAT Tehnika into a world-class MRO company – said Piotr Kaczor, CEO of Avia Prime.

– The air service market is constantly changing, and the past two years in Europe have shown that only big and strong MRO companies can withstand the sudden changes in the market. That is why our status as a group is useful to all – Avia Prime is solidifying its position in the market and increasing its capacities, and JAT Tehnika is becoming part of a larger entity – said Krzysztof Pietkun, vice president of Avia Prime and president of Linetech.

– The MRO industry in Europe promises a very dynamic development in the upcoming years. We are satisfied for the fact that we invested in Avia Prime Group over a year ago, we see that the company is growing and we are eagerly awaiting further development together with JAT Tehnika – said Jozef Janov, a partner at the Hartneberg Holding investment fund, one of the largest shareholders in Avia Prime Group.

– With this transaction, we have made a step forward in the development of JAT Tehnika and the entire Avia Prime Group, pushing the boundaries of the MRO industry by entering Serbia – said Dejan Kostic, vice president of Avia Prime.

JAT Tehnika, whose seat is located at the Belgrade Nikola Tesla Airport, will be the fourth aircraft maintenance location for Avia Prime Group, after the airports in Ljubljana, Slovenia, and Katowice and Rzeszow, Poland.

Let us remind that the Ministry of Economy put JAT Tehnika up for sale through a procedure of public collection of bids on October 25, 2019.

As it was said in the tender at the time, according to the report by the authorized valuer, the company’s value on the date of December 31, 2018, amounted to EUR 20,499,814, whereas the initial price was 50% of the estimated market value, that is, around EUR 10.2 million.

The subject of the sale was 95.4093% of the total capital the Republic of Serbia owns in the company, the share of 2.7273% of the total capital owned by the Pension and Disability Insurance Fund of the Republic of Serbia, the share of 1.0804% of the total capital owned by the National Health Insurance Fund and the share of 0.1574% of the total capital owned by the National Employment Service.

Also up for sale was the share of 0.6256% of the total capital owned by the local self-governments, the Municipality of Pecinci, the City of Pancevo, the Municipality of Alibunar, the Municipality of Kovin, the City of Vrsac and the Municipality of Arandjelovac.

Let us remind that the previous tender for the privatization of this company, which repairs and maintains aircraft and spacecraft, opened in early September. On October 13, the Ministry of Economy decided to terminate the procedure of the privatization of JAT Tehnika. The first invitation opened in June.

On November 12, JAT Tehnika got the EASA Part 145 authorization for line and base maintenance of the Russian regional passenger aircraft Sukhoi Superjet 100 (SSJ 100).


Source: eKapija

06. Dec 2019.
Farmakom M.B. concern with four lead, antimony and zinc mines up for sale

04. Dec 2019.
Investment funds from Silicon Valley considering investments in Serbia

03. Dec 2019.
Petrohemija to invest EUR 15.4 million in processing capacity increase

02. Dec 2019.
Arrival of Chinese company Quectel an opportunity for development of 5G IoT apps in Serbia – Jobs fo

01. Dec 2019.
New sale of thread and yarn manufacturer Dunav from Grocka – Initial price for a quarter of the capi

30. Nov 2019.
British company Aptiv to build factory in Zajecar on 40,000 m2 – Investment worth EUR 20 million, jo

29. Nov 2019.
Serbian Blockchain Summit on December 7 in Belgrade

26. Nov 2019.
State buys 34% of shares of Komercijalna Banka

23. Nov 2019.
China cracks down on bitcoin

19. Nov 2019.
Fiscal Council: Budget for 2020 relatively well planned, excessive salary raises biggest mistake

18. Nov 2019.
Telekom Srbija to acquire Polaris Media

15. Nov 2019.
Renter sought for Hotel Stara Planina

08. Nov 2019.
Delta Holding interested in buying Sava Centar

08. Nov 2019.
New sale of Jugoremedija – Initial price RSD 762 million

08. Nov 2019.
Still no purchasers for Progres company premises – Third sale advertised

05. Nov 2019.
Cukaru Peki copper mine near Bor to open by 2021

04. Nov 2019.
State selling real estate throughout Serbia – Most expensive property, located in Dedinje, costs EUR

31. Okt 2019.
Unfinished building with heliport in New Belgrade up for sale – Price RSD 2.3 billion.

30. Okt 2019.
Hotel Srbija in Niska Banja gets new owner – Renovation by the end of 2020

28. Okt 2019.
Telekom Srbija to take over SRB Digital from Novi Pazar

17. Okt 2019.
Port of Sremska Mitrovica might get terminals for oil and grains, sand and gravel disposal sites...

15. Okt 2019.
Serbia to give land in Nova Pazova to German MTU – Investor obliges to invest EUR 100.9 million and

25. Sep 2019.
OTP Group officially buys Societe Generale Serbia

24. Sep 2019.
Billionaire Elon Musk announces expansion of Tesla to Serbia and Croatia

13. Sep 2019.
Hotel Olga Dedijer on Kopaonik up for sale – Resorts in Veliko Gradiste and Radoinja auctioned as we

13. Sep 2019.
Czech MD Investments 2000 becomes owner of Marina Dorcol for RSD 3.8 billion

11. Sep 2019.
Loan of EUR 74 million for SMEs within EU enterprise development program COSME

10. Sep 2019.
Bids for sale of shares of Komercijalna Banka opened – Second selection phase in November

02. Sep 2019.
State selling JAT Tehnika again – Initial price EUR 10.24 million