June 6 (SeeNews) - Assets of Bosnia's sugar factory Fabrika Secera Bijeljina will be offered for sale at a starting price of 10 million marka ($5.8 million/5.1 million euro) next month as part of a bankruptcy process, local media reported.
If the assets get sold at the July 2 auction, the tax office is set to receive 1.3 million marka from the proceeds, while other creditors would receive payments proportional to their acknowledged claims, business web portal eKapija.ba reported on Wednesday.
Fabrika Secera's outstanding liabilities amount to 16 million marka.
Earlier this month, the company's creditors' assembly rejected a bid made by Turkish company Sariel. In the meantime, it has received a letter of intent from Serbian compny Niva for the purchase of the assets.
Fabrika Secera Bijeljina is located in the Serb Republic, one of the two autonomous entities that form Bosnia and Herzegovina. The other entity is the Federation.
(1 euro = 1.95583)