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Serbia invites bids for major agricultural company

Serbia invited bidders on Thursday for the purchase of the Poljoprivredna Korporacija Beograd (PKB) agricultural company at a starting price of 104.6 million euros ($121.2 million), the economy ministry said.

Prospective bidders must be companies involved in agriculture and trade in agricultural products, the ministry said in a notice on its website. The deadline for submitting bids is Sept. 10.

After several failed attempts to find a strategic partner to invest in the company located near Belgrade, the government decided to either sell it or initiate bankruptcy proceedings. The PKB produces mainly food, dairy and fodder.

Under its non-financial deal with the International Monetary Fund, Serbia should dispose of remain state firms including PKB and the RTB Bor copper mine and smelter.

Source; Reuters