SERTIC: Fate of PKB will be decided by end of April 2016

A final decision on the fate of PKB (Poljoprivredna korporacija Beograd - Beograd Agricultural Corporation) has not been made yet in spite of ongoing talks on this subject, Serbian Economy Minister Zeljko Sertic said today, underlining that the decision on PKB was expected in about 30 days.

Reminding that the first attempt to privatize PKB failed to attract any interested bidders, although the price equaled only 50% of the estimated value of assets and covered 100% of supplies, equipment and materials, Sertic noted that the only option left was to enter into strategic partnership or to dump the price to 30% of the asset value, plus 100% of supplies, equipment and materials.

Sertic reiterated that there would be no new request for the extension of deadlines once the companies undergoing restructuring are left without protection from creditors.

- Regardless of elections, there won't be any amendments to the law, and no company will enjoy the state's protection from creditors after May 30th - the economy minister concluded.

Ministarstvo privrede Republike Srbije

PKB Korporacija a.d. Beograd

Vlada Republike Srbije

Grad Beograd

Zeljko Sertic

PKB

PKB privatization