Total 250 employees of Serbia's Galenika accept redundancy deal - trade union

The buyer of Galenika will keep 900 employees in the company during the first year after the privatisation and will reduce them to 700 in the second year, the representative of Nezavisnost trade union at Galenika, Zoran Pantelic, said in a video file posted on the website of broadcaster RTS on Thursday.

Last month, the Serbian economy ministry said it would offer the employees wishing to voluntarily join a staff downsizing plan at Galenika a compensation equal to 200 euro ($239.8) per every year at the company while a further 200 euro will be paid by the buyer.

The ministry said on Thursday a total of 10 companies have purchased tender documents for the privatisation of ailing pharmaceutical firm Galenika by September 20 deadline, local media reported.

Potential buyers will be able to place their bids until October 2.