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Serbia extends bidding deadline in Komercijalna Banka tender

Author Radomir Ralev
Serbia extends bidding deadline in Komercijalna Banka tender Author: Komercijalna Banka. License: All rights reserved.

BELGRADE (Serbia), November 28 (SeeNews) - Serbia has extended the deadline for submitting binding bids by qualified investors in the tender for the privatisation of Komercijalna Banka [BEL:KMBN] to December 16 from December 2, the finance ministry said.

The participants in the second stage of the tender requested the extension due to the complexity of the process, the finance ministry said in a statement on Wednesday.

On Tuesday, Serbia acquired 34.58% of the ordinary shares in Komercijalna Banka held by the European Bank for Reconstruction and Development (EBRD) and IFC Capitalization Fund for a total of 217 million euro ($239 million).

After the transaction, Serbia's government owns 83.23% of the ordinary shares of Komercijalna Banka which it will be able to offer for sale under the ongoing process for privatisation of the bank

On September 10, the tender commission opened four non-binding bids placed in the tender and found that they are complete, containing the elements stipulated in the documentation for the first phase of the tender.

($ = 0.907876 euro)