July 25 (SeeNews) - Serbia's government said it plans to launch a new tender for the privatisation of chemicals group MSK Kikinda by the end of September if the ongoing tender called in May is unsuccessful.
"After the unsuccessful first tender to privatise MSK, we launched a second one in May and a third one, if necessary, will be launched by end-September," the Serbian government said in a statement related to the 30-month Policy Coordination Instrument-supported programme it had agreed on with the International Monetary Fund (IMF), according to a document posted on the website of the Fund on Tuesday.
You can subscribe to our M&A newsletter here
Serbia's economy ministry said in May it called a new tender for the privatisation of chemicals group MSK. Investors from Japan, Turkey and Germany have expressed interest towards the privatisation of MSK, according to Serbian media reports.
The starting price in the tender was set at 20.4 million euro ($23.9 million), or 50% of the estimated value of MSK, and the deadline for the submitting of bids is August 10, 2018.
The previous tender for the privatisation of MSK Kikinda failed to attract any offers in February. A single company, Cyprus-based Kronospan Chemical Holdings, bought tender documents but placed no bid in the tender.
In September 2017, the IMF urged the country's state-owned natural gas monopoly Srbijagas to dispose of non-core assets by selling its holdings in MSK, HIP Azotara Pancevo and ceramics producer Toza Markovic.
($ = 0.854564 euro)