Privatization of PKB Corporation begins

Serbian Ministry of Economy has published a public invitation for investors to submit letters of interest regarding the privatization of PKB and its subsidiaries, including the agricultural aviation, EKO-LAB, PKB Agroekonomik, and veterinary station.

Prospective bidders have until 17th February to submit their letters of interest in acquiring PKB which should contain the basic information about the bidder, a statement confirming their interest, the proposed format of privatization, an investment programme, a general business plan, the number of employees etc.

The letters could be submitted via regular mail, e-mail, or at the Ministry’s premises in 20, Knez Milos Street, Belgrade.

In September 2016, the Belgrade Assembly decided to transfer its share in PKB to the state, while, in December 2015, the Privatization Agency published a public invitation for the sale of PKB’s assets. However, no companies showed up at the official opening of bids in March 2016. After that, the sale of PKB was stopped, and the state authorities ordered a new assessment of the company’s assets.

PKB Corporation owns 1,400 hectares of building land, and 5,200 hectares of arable land. PKB and its subsidiaries have around 2,000 employees.

In 2015, PKB sold to MPC and Lidl a total of 5 hectares of arable land on the outskirts of Belgrade at the price of 700,000 EUR per hectare.

Several Chinese companies and Al Dahra Corporation from the United Arab Emirates, which executives met with the Serbian PM, Aleksandar Vucic in Davos yesterday, had expressed interest in acquiring PKB.

(RTS, 19.01.2017)


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