August 12 (SeeNews) - The board of directors of Serbia's Jugoremedija has received three bids for the purchase of the insolvent pharmaceutical company's assets, local media reported on Wednesday.
The bids were placed by Czech Republic-based APS Capital Group's subsidiary Project One, Turkey's Birgim, and an unnamed Belgrade-based company, Tanjug news agency quoted the bankruptcy administrator of Jugoremedija, Radovan Savic, as saying.
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"The bids were ranked on August 5 and sent to the board of creditors of Jugoremedija to make a decision. The deadline for their decision is ten days, if the bankruptcy judge does not extend that deadline," Savic said.
If Jugoremedija's board of creditors approves none of the offers, the auction for the sale of the assets will be declared unsuccessful, as in the previous 13 attempts, Savic noted.
"That will probably be the end, because the judge has announced that in case of an unsuccessful sale, he will go to the solution of dividing Jugoremedija among creditors, and there are 850 of them," he added.
Jugoremedija was declared bankrupt in 2016. The most important assets of the company are an industrial complex in Zrenjanin, which comprises several production facilities, as well as 24 trademarks, 28 motor vehicles, inventory and supplies.