Bosnia's City Mall opens retail park in Zvornik
Bosnia’s Pro Fin reopens subscription for new issue of 3-yr notes
Romania's OPCOM electricity spot volumes - Dec 11, 2023
Romania's OPCOM electricity spot prices - Dec 11, 2023
Croatia power consumption - Dec 09, 2023
Nov 23, 2017 18:05 EEST
November 23 (SeeNews) - Russian Copper Company (RCC) has sent a letter of interest towards the privatisation of Serbian copper mining and smelting company RTB Bor, Belgrade-based media reported on Thursday.
RCC is interested in becoming a strategic investor in RTB Bor, Serbian public broadcaster RTS quoted government sources as saying.
You can subscribe to our M&A newsletter here
Earlier on Thursday, Serbian daily Srpski Telegraf said the Russian company plans to invest 331 million euro ($392.1 million) in the acquisition of a 60% stake in RTB Bor from the Serbian government plus 230 million euro for the repayment of the debt of the company.
The managing director of RTB Bor, Blagoje Spaskovski, said in October that Serbia's government plans to launch a tender for the privatisation of state-run copper miner and smelter RTB Bor at the end of the first quarter of 2018. Two Chinese companies, as well as a Canadian and a Russian firm were analysing potential investments in RTB Bor, Spaskovski said back then.
A Serbian court approved in July 2016 a plan for the restructuring of RTB Bor, allowing the write-off of 90% of the company's unsecured debt. Under the plan, the remaining 10% will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity.
($ = 0.843971 euro)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options