June 1 (SeeNews) - Serbia's economy ministry said it has alled a new tender for the privatisation of chemicals group MSK Kikinda.
The starting price in the tender is set at 20.4 million euro ($23.9 million), or 50% of the estimated value of MSK Kikinda, and the deadline for the submission of bids is August 10, 2018, the economy ministry said in a public notice on Thursday.
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The tender will be open to Serbian and foreign investors active in the chemicals industry, with individual annual revenue of at least 150 million euro, the economy ministry said.
Consortia will be able to participate in the tender if the company fulfilling the annual revenue requirement holds a stake of more than 50% in the consortium, the ministry added.
State-owned gas monopoly Srbijagas owns 88.2% of the capital of MSK Kikinda, while the Serbian government directly controls 11.7% shareholding interest, the ministry said in the notice.
The previous tender for the privatisation of MSK Kikinda failed to attract any offers in February. A single company, Cyprus-based Kronospan Chemical Holdings, bought tender documents but placed no bid in the tender.
In September, the International Monetary Fund (IMF) urged Srbijagas to dispose of non-core assets by selling its stakes in MSK Kikinda, HIP Azotara Pancevo and ceramics producer Toza Markovic.
($ = 0.85461 euro)