September 3 (SeeNews) - The government of Bosnia’s Sarajevo Canton said it will put up for sale 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).
Sarajevo Canton's privatisation agency will launch a tender to collect offers from interested buyers next week, Adnan Delic, minister of economy of the Sarajevo Canton said in a statement on Thursday.
You can subscribe to our M&A newsletter here
ZOI '84 will use the proceeds from the sale to cover tax debt, as well as improve the infrastructure of its ski centers and business operations, Delic said.
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)