Source: Novosti | Wednesday, 16.08.2017.| 10:10

FAS fails to get new owner after all – Creditors reject improved bid by Batagon

Illustration (Photo: Monkey Business Images/
The Board of Creditors of Fabrika Akumulatora Sombor (FAS) has rejected the second, improved bid by the Swiss company Batagon International, worth EUR 4.5 million. The company recently submitted the sole bid for the purchase of FAS, worth EUR 3.5 million.

The bankruptcy trustee, Predrag Ljubovic, says that he has contacted Batagon to inform them that the bid has been rejected and that they may submit a new one. He also points out that he doesn't know whether the Swiss company will remain interested in purchasing the car-battery plant.

– If Batagon gives up, we will seek a new buyer. We will not place a new ad, as the current one is still open and potential purchasers know about it. They only need to meet the stated terms, which is not easy, and make an offer – Ljubovic explains.

The Sombor plant has been estimated at EUR 24.57 million.
Only logged-in users can comment.