The Ministry of Economy of Serbia has signed a contract for the sale of the entire capital of the Inđija-based company Energo-Zelena to Matijević Meat Industry for €5.1 million, according to Biznis.rs.
Energo-Zelena specializes in processing harmless animal by-products.
Matijević Meat Industry acquired Energo-Zelena as the sole bidder in the privatization process, purchasing it for half of its estimated value, which stood at €10.2 million as of December 31, 2023.
The Ministry of Economy previously attempted to privatize the company twice but faced no interested buyers. On September 3 of this year, the Ministry reissued a public call for the privatization of Energo-Zelena. However, the eligibility criteria restricted participation to domestic legal entities engaged in meat processing and conservation, with a business revenue of at least 7.2 billion dinars in 2023, alongside a net profit in the same year.
On October 7, 2024, following the Commission’s recommendation, the Ministry of Economy officially declared Matijević Meat Industry as the successful buyer of Energo-Zelena.
The sale contract was finalized on November 18 for the agreed amount of €5.09 million.
Prior to signing the agreement, the Ministry of Economy sought approval from the Ministry of Finance’s Anti-Money Laundering Administration to ensure there were no obstacles to concluding the deal.
Energo-Zelena, in partnership with the Belgian company Zelena N.V., had previously filed an arbitration case against Serbia in 2014 at the International Center for the Settlement of Investment Disputes in Washington. The company cited significant losses and damage resulting from actions and oversights by Serbian authorities in the field of harmless animal by-product processing.
Energo-Zelena claimed that Serbia’s failure to comply with its regulations, including allowing illegal actions by veterinary inspections, led to significant financial harm, including the loss of €21.5 million invested in the Inđija facility. The company also reported environmental damage from the improper disposal of animal waste by some producers.
In 2019, the Serbian government became the sole owner of Energo-Zelena, but the company has since been sold back into private ownership.
