July 19 (SeeNews) - Serbia's government plans to keep a minority stake in state-run copper mining and smelting company RTB Bor after its project for a capital injection by a private strategic partner is completed, an economy ministry official said.
"Serbia will not have a majority stake in RTB Bor but the country will have a stake in the capital of the company," Dragan Stevanovic, a state secretary at the economy ministry, said in a video file posted on the website of news agency Tanjug on Wednesday.
Тhe economy ministry said on Wednesday it is inviting bids in a tender for the selection of a strategic partner who would inject $350 million (300 mln euro) in the capital of RTB Bor.
The size of the stake that the government plans to keep depends on the bids that will be placed in the tender, Stevanovic explained in the video file.
In July 2016, a Serbian court approved a plan for the restructuring of RTB Bor, allowing the write-off of 90% of the company's unsecured debt. Under the plan, the remaining 10% of debt will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity.
($ = 0.861041 euro)