February 18 (SeeNews) - The latest attempt to sell the assets of Bosnia's bankrupt sugar mill Secerana has failed again, even though the ask price was cut to 8.5 million marka ($4.7 million/4.3 million euro), from 9.0 million marka at the previous auction held in January, the board of creditors said.
"Not a single bid has arrived," the head of Secerana's board of creditors, Vojislav Nikolic, said in a video file published by local radio and TV broadcaster BHRT on Monday.
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The board of creditors has therefore decided to hold a new auction, further lowering the price to 8.0 million marka, Nikolic said, adding that the board has decided earlier to continue to hold auctions for the sale of Secerana's assets by cutting the price by 500,000 marka in every new attempt, until it drops to no less than 7.0 million marka.
According to earlier media reports, investors from Turkey, Vietnam, Serbia, as well as Bosnian firm Pavgord have shown interest in Secerana's assets but none of them has managed to reach an agreement with the creditors.
Secerana's assets were first offered for sale back in 2017 for 15 million marka and since then the price has been cut by 500,000 marka in each of the subsequent attempts to sell them. The company went bankrupt some four years ago over an outstanding debt of 16.5 million marka.
Bijeljina-based Secerana was the only sugar mill in the Serb Republic, one of two entities that form Bosnia and Herzegovina. The other one is the Federation.
(1 euro = 195583 marka)