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UAE-based Metito buys Serbian bankrupt water treatment plant - report

UAE-based Metito buys Serbian bankrupt water treatment plant - report Source: Fabrika Vode

BELGRADE (Serbia), January 20 (SeeNews) - United Arab Emirates-based company Metito bought the bankrupt water treatment plant in Serbia's northern city of Zrenjanin for 417 million dinars (3.55 million euro), local media reported on Wednesday.

The buyer of the bankrupt water facility was Pannonian Water, local news portal Voice quoted the commercial court enforcement officer in charge of the case, Dragan Nikolic, as saying.

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For its part, Pannonian Water is fully owned by Metito's Serbia-specific investment and operation platform, EmSerb Water (ESW), Trade Registry data showed.

According to the water plant's website, two Israel-based firms - Rimon Ltd and Avital Group - hold a 65% stake in it which they bought through a credit provided by Serbia-based lender Erste Banka.

Nikolic has previously told Radio Free Europe that the estimated value of the facility is 834.7 million dinars.

In November, prime minister Ana Brnabic said that the government is nearing a deal with a "world-renowned investor" that would restart the factory's operations.

Due to a high arsenic content in the tap water, Zrenjanin's inspectorate prohibited people from drinking it in 2004.

( 1 euro = 117.6004 dinars)

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