Looking for new owner of Vrsacki Vinogradi – Starting price around EUR 4 million

Vrsacki Vinogradi, which has been in bankruptcy since November 2015, might soon get a new owner, and whether this will come to pass will become known in late January.

The Bankruptcy Supervision Agency put Vrsacki Vinogradi as a business entity in bankruptcy, along with its brand, up on sale on December 30, 2016. The starting price is RSD 480,159,084.38, and the public bidding will be held on January 30.

Even though foreign investors have been mentioned so far as potential purchasers, the latest among them being the Chinese company Yihai, administrative receiver Dusan Dragojlovic says as an authorized person for our portal that these are unofficial allegations. More will be known about those interested in purchasing the former wine giant after the sales documentation has been bought, the deadline for which is January 23.

– The new owner will be independent of the bankruptcy procedure, which continues over the bankruptcy estate, claims and debts excluded. The purchaser gets the brand and the vineyards, which have been maintained – our interviewee says and reminds that those interested in taking part in the sales procedure must pay the deposit of RSD 192,063,633.75 by January 23.

Despite the troubles Vrsacki Vinogradi has been going through since going into bankruptcy in November 2015, grape picking began on time in 2016, though on smaller areas than in previous years (720 of the total of 1,134 hectares). The uninterrupted work has been achieved thanks to the contract on joint production and business cooperation, signed by the Bankruptcy Supervision Agency, which is carrying out the bankruptcy proceedings in Vrsacki Vinogradi, with the Serbian company Profinex in July 2016, and which entails investments in the completion of all agricultural works at the vineyards, picking, as well as production, bottling and selling wine from this year’s yield.

The new purchaser will, according to the tender documentation, also take over the rights and obligations arising from this contract.

Vršački vinogradi a.d Vršac

Agencija za licenciranje stečajnih upravnika Beograd

Vrsacki Vinogradi in bankruptcy

wine production

wine with geographical indication