EMS places valid financial bid for Serbia's Galenika - econ min

The tender commission has recommended to the economy ministry to let EMS SA proceed to the next stage of the sale process of Galenika as the financial offer meets the specified requirements, the economy ministry said in a statement on Friday.

The financial offer of EMS SA, represented in the tender by Luxembourg-based company Aelius, will be opened on October 26, while the other interested investor, Switzerland-based pharmaceutical company Amicus, has not placed a valid bid, the ministry added.

Earlier this month, Serbian media reported that EMS SA and Amicus are the two companies bidding in the tender for the privatisation of Galenika.

EMS SA participated in a tender for the sale of a 25% state-owned stake in Galenika in 2016 but its bid was ranked as invalid over procedural issues.

The Serbian government launched the tender for the sale of its 93% stake in Galenika on September 1. The minimum price was set at 25 million euro ($29.4 million), to be used for repayment of Galenika debt, plus 1 euro for the tendering.

($ = 0.850679 euro)