New tender for RTB “Bor” on August, 31st – starting price 340 millions USD

Minister of Economy and Regional Development, Mladjan Dinkic, announced today (July, 25th, 2007) that the new tender for privatization of RTB “Bor” would be published on August, 31st with the starting price of 340 millions USD and investment plan of no less than 180 millions USD.

At the press conference in the Government’s headquarters, Dinkic reminded that on the last annulated tender the starting price was 260 millions USD, and he explained that the new starting price was equivalent to the offer of the second place bidder – “East Point” consortium and “ORN” fund on the previous tender.

Dinkic expressed his expectations that the new tender would be finished by the end of this year and that RTB “Bor” would soon get the new owner, warning that bidders on the new tender should have investments in accordance to high European standards regarding the protection of the living environment.

Dinkic also announced that he would initialize changes in Privatization Law, in order not to have repeated situation from the first tender, when after cancellation of negotiations with the first placed bidder there hadn’t been any presumed law notes on continuing negotiations with the second runner on the tender.

He explained that in the case of negotiations cancellation with the first ranged bidder, there would be immediate continuance of negotiations with the second bidder.