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Nine show interest in buying Hellenic Sugar’s factories in Serbia

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Greek company Hellenic Sugar Industry’s international tender for the sale of its two factories in Serbia has attracted the interest of nine companies from Western Europe and Serbia, Greek media reported on Friday.

Hellenic Sugar plans to open the data room and sign confidentiality contracts with interested investors in the coming days, news agency ANA quoted the CEO of the Greek company, Pantelis Manis, as saying.

In November, Hellenic Sugar president Christos Rossios said the minimum purchase price of the two factories was set at 25 million euro ($26.9 million). The sale of the two factories, located in Zabalj and Crvenka, in northern Serbia, will allow Hellenic Sugar to repay debt and resume efforts to expand internationally, Rossios said back then.

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According to Serbian media reports, local sugar maker Sunoko is among the investors interested in the two factories.

In March, Greek news daily Kathimerini reported that the Greek government expects to obtain some 50 million euro from the sale of the Serbian factories of Hellenic Sugar Industry and reach an arrangement over its 150 million euro debt to Piraeus Bank.

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