Austrian industry holding A-Tec Industries AG is out of the running for the acquisition of Serbian state-run mining group Rudarsko-Topionicarski Bazen Bor (RTB), Serbian news agency Beta reported on September 5, 2008, referring to Information from the local economic ministry.
Swiss metal trader Glencore, which is linked to the aluminium group of Russian billionaire Oleg Deripaska, has already entered talks for the sale of RTB, Beta reported. The ministry confirmed that Glencore representatives were in Belgrade on Monday for negotiations regarding RTB. However, the Swiss company declined a comment on the matter.
The RTB sale is in its final stage and bidders are to submit letters of interest by September 30, 2008. Previous sale attempts have failed because the tender winners -- first Romanian Cuprom and then A-Tec -- did not provide the purchase price. This week Serbian Economy Minister Mladjan Dinkic said these two firms would not be allowed to take part in the new tender.
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