Serbia Launches Tender for 86.5% of Truck Maker FAP

Interested bidders face a January 23 deadline for the filing of binding offers, the government’s Privatisation Agency said in a tender notice posted on its website.

Potential investors should send a letter indicating interest by December 19.

Eligible bidders should have been active in car manufacturing in the past three years with operating revenue of at least 10 million euro ($12.5 million) in 2007. Financial investors with total assets of at least 50 million euro each will also be considered eligible, as will investors with revenue of at least 15 million euro each.

FAP, set up in 1952, produces trucks and special purpose motor vehicles. It ended 2006 with a net loss of 40.5 million dinars ($598,501/ 478,954euro), up from a net loss of 23.2 million dinars a year earlier. More recent figures were unavailable.

Private companies and individuals own the remaining 13.5% of FAP.

(1 euro = 84.5592 Serbian dinars)