BELGRADE (Serbia), January 22 (SeeNews) – Serbia's Bankruptcy Supervision Agency said it is selling the production facilities of insolvent pharmaceutical company Jugoremedija estimated at 3.887 billion dinars ($40.1 million/32.8 million euro).
An auction for the Jugoremedija factory in Zrenjanin, in the north of the country, will take place on February 8, the Bankruptcy Supervision Agency said in a statement on Friday.
You can subscribe to our M&A newsletter here
The list of assets put up for sale includes the factory's equipment, shares and stocks, as well as 28 vehicles, the Bankruptcy Agency said.
A deposit of 777.3 million dinars is required to participate in the tender.
Jugoremedija was declared bankrupt in November 2016, after which the Zrenjanin Commercial Court ordered the sale of its assets to repay creditors. However, Jugoremedija’s biggest creditor Heta Real Estate Serbia, a subsidiary of Austria's Heta Asset Resolution, failed to deliver a viable restructuring plan for the drug maker within the deadline, the Zrenjanin Commercial Court said.
In October, the Zrenjanin Commercial Court cancelled an auction for the sale of Jugoremedija assets following an appeal by creditors.
(1 euro = 118.597 dinars)