Serbia Postpones Public Auction for Jutra Co. to Dec 19

The government's asset-selling agency has set the starting price for 100% of Jutra's base capital at 4.19 million euro ($5.43 million). The auction was initially scheduled for November 21.

"The auction has drawn more interested bidders than we had anticipated," Privatisation Agency spokesman Dusan Belanovic told SeeNews.

Potential buyers now face a December 10 deadline to submit binding offers, the agency said in a statement. They should register for the auction by December 11.

Jutra is owned by Serbian weapons trading company Jugoimport. Further details about the company were not immediately available, because it is to be auctioned off rather than sold in a tender, which gives the agency the right not to disclose financial details.

Jugoimport has said its combined turnover for the last 30 years totalled about $21 billion.

($ = 0.7717 euro)