Serbia cancels JAT Tehnika privatisation tender

"During the course of the proceedings, it was found that there were certain issues regarding the implementation of the privatisation process that needed to be considered and resolved beforehand in order to carry out the process in a proper and efficient manner," the economy ministry said in a statement on Friday.

It did not elaborate.

The ministry launched the tender for the sale of JAT Tehnika in September, after a previous attempt failed in August. It offered for sale 99.38% of JAT Tehnika, which is owned by the government and state-run funds, at a starting price of 20.5 million euro ($22.6 million).

The deadline for submitting bids in the contest expired on October 4.

JAT Tehnika was established as a separate entity in 2006 following a spin-off from JAT Airways. It employs some 1,000 people and offers a broad spectrum of maintenance activities such as aircraft maintenance, engine shop maintenance, Non Destructive Testing, services of engineering department and technical training.

($ = 0.906482 euro)