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China's Yinlong offers 10 mln euro for purchase of Serbian bus maker Ikarbus - report

China's Yinlong offers 10 mln euro for purchase of Serbian bus maker Ikarbus - report Source: Belgrade Fair

BELGRADE (Serbia), April 4 (SeeNews) – Chinese bus maker Yinlong placed a 10 million euro ($10.65 million) bid for the purchase of a 51% stake in the capital of Serbian sector player Ikarbus and committed to investing additional 30 million euro in the company, Serbian media reported.

Chinese investors also negotiated the purchase of Serbian truck maker Fabrika Automobila Priboj (FAP) during the Belgrade Motor Show that was held between March 23 and April 2, Serbian public broadcaster Radio Televizija Srbije (RTS) said on Monday.

China is interested in relocating the production of trucks and buses closer to the European Union (EU) and aims to transfer to Serbia technology for the production of electric vehicles, RTS said. 

The Belgrade Motor Show attracted a record-high number of 146,324 visitors and 400 exhibitors. The number of sold cars and motorcycles sold during the event came in at some 3,500 and 1,000, respectively, the broadcaster added. 

In February, the Belgrade city authorities said that urban transport company GSP signed 8.5 million euro agreement for the delivery of 30 low-entry buses with Ikarbus. The bus maker owes 14 million euro to banks creditors. 

($ = 0.938751 euro)

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