March 30 (SeeNews) - Serbia invited expressions of interest in the privatisation of chemicals group MSK Kikinda, petrochemicals producer HIP Petrohemija and chemical fertiliser producer HIP Azotara Pancevo on Thursday.
Potential investors will be able to submit their letters of interest to the economy ministry by May 3, the government said in a statement.
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In the following days, the three companies are expected to provide information about the fair market value of their capital, assets and liabilities as of December 31, 2016, the government added.
After analysing the asset value of the three companies, their strategic importance for the country and the content of the submitted letters of interest, the economy ministry will pick the best privatisation model.
Earlier this month, economy minister Goran Knezevic said the government is having difficulties with 17 companies, including the petrochemical producers, copper miner and smelter RTB Bor, Galenika, PKB and Resavica.
The government directly owns 53.7% of the share capital of HIP Petrohemija, the largest petrochemical group in Serbia. Oil and gas firm NIS [BEL:NIIS], in which Russia's Gazprom Neft owns a 56.15% stake, controls 12.72% of HIP Petrohemija.
The government also owns 88% of HIP Azotara Pancevo and 97% of MSK Kikinda.