The Autočačak Company has bought AD BIP Beograd (Belgrade Beer Industry) for 2.09 billion dinars following bidding at the Bankruptcy Supervision Agency.
Autočačak was the only bidder that responded to the public call for the privatization of the former company Beogradska Industrija Piva (BIP) and its offer has been accepted, as it amounts to over a half of the estimated price of BIP, Tanjug news agency reports.
Autočačak is given a deadline of seven days to sign the acquisition agreement and 30 days to pay the difference between the deposit for taking part in the privatization and the purchase price.
The chairman of BIP, Mile Bogdanović, said he was very pleased with the acquisition and the price.
“The price is over 50% of the estimated value. I believe that this will help settle creditors’ claims, primarily the Tax Administration, Komercijalna Banka and the employees, and I am sure that a part of the shareholders will get as many of their shares as possible,” he said.
He added that BIP had not lost its value during the bankruptcy proceedings, adding:
“I hope that considering the brand of BIP, the company will continue to operate, maybe not in Belgrade,” Bogdanović added.
He pointed out that he wished for the new owner to maintain the production and for BIP to remain in Serbia.
When asked what the total claims by the creditors are, he said that they were lower than the achieved price of 2.09 billion.
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