September 15 (SeeNews) - The privatisation agency of Bosnia's Sarajevo Canton said it has launched a tender for the sale of the former hotel Igman and the associated facilities and land, owned by public enterprise ZOI '84 at a starting price of 9.2 million marka ($5.6 million/4.7 million euro).
Bidders should also submit a business plan that will include 4.5 million marka of investments within three years from the conclusion of the contract, Sarajevo Canton's privatisation agency said in the tender documents.
You can subscribe to our M&A newsletter here
The canton is looking for investors that will operate the former hotel in the accommodation, catering, sports, recreational or health sectors.
The application deadline is October 15. The privatisation agency will announce the five best bids on October 26.
Hotel Igman was built for the winter Olympic Games held in Sarajevo in 1984. It was devastated during the 1992-1996 war in Bosnia.
ZOI '84 manages the sport facilities built for the winter Olympic Games on the Bjelasnica and Igman mountains.
The Sarajevo Canton is one of ten cantons forming Bosnia’s Federation entity. The Federation and the Serb Republic together form Bosnia and Herzegovina.
(1 euro = 1.95583 marka)