The consulting company BDO Serbia estimated that the value of 100% of Lasta’s assets to be between EUR 16 and 23 million.
The public call for submission of bids for the acquisition of Serbia’s biggest public transport company, Lasta is expected to be launched by June.
BDO Serbia, which was chosen as the privatization consultant in late January this year, has delivered the evaluation documentation to the Ministry of Economy and the Supervisory Board of Lasta which will consider the details of the estimate on Friday.
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However, apart from considering the evaluation details, there is not much else BDO can do since the Ministry of Economy decides the price of the state’s 77% share in the company that is up for sale, as well as the sale deadline.
BDO Serbia has also determined the model to pay off the company’s debts through the sale of assets.
The previously incurred debts that amount to RSD 600 million were regulated by the contract on debt-credential relations, concluded in late August 2015, with financial creditors and relates to liabilities incurred before that date.
The debts are being paid off on time since the company has been generating profit for a few consecutive years now. Bearing in mind the good business results, the employees and managers that inspected the documentation claim that the evaluation hasn’t been done right.
“Our impression is that the evaluation has been done in haste and that their (BDO) assessment of the company’s value is not adequate,” the unidentified sources from the Last Company said.
State Secretary Dragan Stevanovic said that he expected the call for tender to be launched in the first half of the year because it was important to prepare all the required documentation beforehand.
This post is also available in: Italiano