Serbia sells IMT tractor repair centre to Prvi Maj Cacak for 545,000 euro

in the transaction, Prvi Maj acquired a warehouse, a service hall, a department for overhauling tractor engines and a power transformer station, the agency said in a statement last week.

The IMT tractor repair centre was declared insolvent in December 2015 over an outstanding debt of 1.57 billion dinars. In the decision to open bankruptcy proceedings, it is stated that the company has assets worth an estimated 470 million dinars.

According to the Serbian business registry, Prvi Maj Cacak was founded in July 1998 and is equally owned by Montenegro’s Auto Cacak Podgorica and Serbia’s Euroline Transport.

(1 euro = 117.288 dinars)