July 18 (SeeNews) - Serbia's economy ministry said on Wednesday it is inviting bids in a tender for a strategic partner in state-run copper mining and smelting company RTB Bor.
The strategic partner should inject $350 million (300 mln euro) in the capital of RTB Bor, the economy ministry said in a tender notice published in local Politika daily.
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Offers must be submitted by August 20, 2018.
Tenderers should have been continuously active in the production of copper and other base and precious metals in the past 10 years and to have had a minimum annual turnover of $500 million in the past year.
Earlier this month, Serbia's energy minister Aleksandar Antic said 11 companies have expressed interest in the tender.
A Serbian court approved in July 2016 a plan for the restructuring of RTB Bor, allowing the write-off of 90% of the company's unsecured debt. Under the plan, the remaining 10% of debt will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity.
($ = 0.859876 euro)