Galenika: Anglo-Russian consortium the sole bidder for strategic partnership

The British – Russian consortium of companies Frontier and Petrovax is the only bidder to have submitted a valid offer for strategic partnership with Galenika. The bidders from India and Brazil failed to meet the main requirements stipulated in the Public Call – the Commission for the Implementation of the Strategic Partnership has ascertained. Now, it is up to the Serbian government to decide whether to start negotiations with the consortium.

 A month and a half after the first bid was opened, the Commission has ascertained that only one bidder can proceed towards strategic partnership with Galenika.

“The report stating that only one bid is valid will be submitted to the government. In the next stage, we expect the government to make a decision whether to commence negotiations about the strategic partnership”, says Zoran Pantelic, the Commission’s member.

The British – Russian consortium offered at least 7 million EUR for a 25% stake in the Serbian pharmaceutical company. Just like the failed bidders, the consortium also plans to halve the current number of employees of 1,400.

“The trade union thinks this is absolutely unacceptable or rather the number of employees that the consortium plans to keep working is unacceptable. There have been three redundancies of surplus workers in Galenika so far and if the government accepts this partnership, we have to negotiate a better deal”, says Tamara Lalic, President of Galenika’s Independent Trade Union.

The bidder explains that reducing the number of employees is vital for Galenika to become stable while, as a result of the investments in new technology, environmental protection and production expansion, there will be new jobs created.

“Not a single bidder has decisively stated how high these investments would be since the investments and all other parameters will be stipulated in the contract concluded with the government”, Zoran Pantelic adds.

Nobody knows when will the government decide about negotiations with the only potential strategic partners, but if it decides so, the negotiations should be finished within 90 days.

(RTS, 14.09.2016)

A small favour

Since 2013, Serbian Monitor has been offering to its readers carefully selected news about the Republic of Serbia, as a daily commitment stemming from the genuine desire to offer undistorted information about a country that is too often a victim of prejudice and superficiality. From November 2016, this service is available in English and Italian with a growing number of original articles with a goal of providing a complete picture of this Balkan country's economy, politics, culture and society. Our archive is completely free of charge, available to anyone who wants to get to know the country, to study its specific aspects, or to be constantly updated about it. This project will only be able to continue with the help of readers on whom we are calling to provide a small financial support so that we can continue supplying an increasingly expanding pool of information and original contributions. If you appreciate our work, please click on the button below.

This post is also available in: Italiano

Share this post

Leave a Reply

Your email address will not be published.

scroll to top