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Sale of Bosnia's Hidrogradnja assets worth 49 mln euro attracts no bids - report

Sale of Bosnia's Hidrogradnja assets worth 49 mln euro attracts no bids - report Source: Pixabay

SARAJEVO (Bosnia and Herzegovina), November 15 (SeeNews) - The November 14 sale of assets belonging to Bosnia's bankrupt construction company Hidrogradnja and worth 96.1 million marka ($54.2 million/49.1 million euro) has failed due to lack of bidders, local media reported. 

"No one wants to buy the assets, because, apparently, the money is to big," he company's bankruptcy trustee, Zijad Fazlagic, told news daily Dnevni Avaz on Thursday. 

He said that one Australian and one Bosnian firm bought tender documents but none of them submitted bids.

According to the report, interested investors had to pay 1% of the starting price, i.e. some 900,000 marka, to gain the right to participate in the auction, which included Hidrogradnja assets located in Bosnia and Libya.

The municipal court in Sarajevo launched bankruptcy proceedings against Hidrogradnja in 2016.

Previously, the government of Bosnia's Federation entity, which controls a 67% stake in Hidrogradnja, tried to sell the company back in 2013, but the sale failed to attract any buyers.

(1 euro = 195583 marka) 

 

 

 

 

 

 

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