One of the former giants of the Serbian economy, IMR sold to a Belgrade consortium

Industrija Motora Rakovica (IMR) AD, in bankruptcy, has been sold to the consortium consisting of Institut za Izgradnju Grada and Hempro from Belgrade for RSD 1.1 billion.

The company was sold on September 30, via a public bid. The auction was organized by the Bankruptcy Centre at the Bankruptcy Supervision Agency.

As the offered price was below 50% of the estimated value, it had to be reviewed first the Board of Creditors, which reached the decision on accepting the offer on October 21.

The value of IMR had been estimated RSD 2,931,478,556.72, and the offer amounted to RSD 1,100,100,000.

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The most important part of IMR is the business complex located in the Belgrade municipality of Rakovica, which features 47 facilities within the factory complex, including seven connected halls with 15 facilities and seven warehouses spanning a total of 75,000 m2.

The property of IMR also includes a hotel and an office building in Rakovica, but also a separate production complex in Zlatibor, as well as a complex in Ljubis.

The Bankruptcy Supervision Agency advertised a new sale of IMR on August 30, with two bids submitted.

The previous attempt at selling this company had been pronounced unsuccessful. In late May, Lilly Drogerie offered RSD 354 million for the former giant, but their offer was below 50% of the company’s value.

(Blic, 21.10.2019)

https://www.blic.rs/biznis/privreda-i-finansije/prodat-imr-nekad-je-zaposljavao-7000-radnika-u-stecaju-je-od-2017-a-danas-je-nasao/bt5f9xr

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