Winner on auction for Department Stores "Beograd" to sign sales contract after anti-monopoly commission gives its consent

Tension among potential aspirants for purchase of Department Stores "Beograd" was additionally raised yesterday (October 16, 2007) with the announcement of the Privatization Agency that it will change the contents of the auction documentation.

Fear that that change will lead to increase in amount of banking guarantee from 44m EUR, which would eliminate number of bidders since they can hardly obtain new banking guarantee prior to October 22 when the deadline expires, has been denied by the Privatization Agency. Press department of the Agency announced that the change would mean introduction into procedure of the Commission for protection of competition.

The first-ranked, the one who wins on the auction on October 29, can sign the sales contract after anti-monopoly commission gives its consent.

Auction documentation was bought by 40 companies.