News

NIS Sole Bidder for Privatization of Petrohemija

Wednesday, 13. Okt 2021.

Only one bid was sent in response to the public invitation for the selection of a strategic investor for Akcionarsko drustvo za proizvodnju petrohemijskih proizvoda, sirovina i hemikalija HIP-Petrohemija Pancevo, made by NIS, the Ministry of Economy announced.

On September 9, this ministry invited all interested local and foreign legal entities to take part in the process of privatization by the model of a strategic partnership through the recapitalization of the company HIP-Petrohemija and to make their bids for the selection of a strategic investor.

The subject of the public invitation, which closed two days ago at noon, was to select a strategic investor that would become the owner of a 90% stake at the most through the recapitalization of the subject of the privatization in the amount of EUR 150 million.

– The committee for the execution of the model of the strategic partnership, appointed by the Government of Serbia, will undertake activities toward assessing the submitted documentation and bid, based on which a proposition of the further steps will be sent to the government for deliberation – it is said.

Let us remind that, last year, there were indications that NIS might become the majority owner of Petrohemija through the construction of a polypropylene factory and a recapitalization of EUR 150 million. However, things didn’t go further than forming work groups which considered this possibility.

Even back then, economists warned that a strategic partner was the only salvation for Petrohemija, because the state has no capacities to have this company operate profitably, and there were even propositions for a Russian investor to take over the entire factory.


Source: eKapija

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