Swiss company offers 7mln EUR for FAS

For the fifth time, the Swiss company, Batagon has upped its bid for the Sombor car battery factory, FAS. The newest bid is 7 mln EUR.

The Swiss company seems adamant to buy FAS. According to FAS’ administrator, Predrag Ljubovic, the new bid is very favourable, and that the Swiss company has increased it by 1 mln EUR compared to their last bid. Batagon has underlined that this was their last bid, and that if it was not accepted by FAS, they would withdraw their offer. The bank guarantee that the Swiss company obtained in order to be able to submit the bid for the Sombor factory expires on 19th October, and this is the deadline by which FAS has to reply to their offer.

– If the Board of Creditors fails to accept the offer, it will not be good for either the factory or the creditors themselves. I hope that they have realized how serious the bidder is. I expect them to respond by the end of the week – Ljubovic said.

If the Board of Creditors rejects the offer, the bankruptcy trustee is expected to launch another public invitation for submission of bids for the purchase of FAS as soon as possible.

To remind, FAS was acquired by Farmakom MB in 2006, and it had operated successfully until 2011, when it exported 10,000 car batteries and employed 820. The company’s downfall happened in 2012.

FAS  was leased twice, and the last lessee, DEM Helos, had the factory operating at around 30% of its capacity and with a hundred workers.

(Vecernje Novosti, 11.10.2017)

This post is also available in: Italiano

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