Mlađan Dinkić announced changes in Law on privatization - procurement of companies "on leasing"

Source: Tanjug Thursday, 01.01.1970. 14:56
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- Government of Serbia will take the changes in the Law on privatization into consideration next week. The main aim of introduction of these changes is to allow the companies interested in remaining public companies to acquire managerial rights by paying 30% of their prices - said Mlađan Dinkić, the Minister of Economy and Regional Development.

He said that all interested buyers would be able to pay for the rest in installments, within the next five years.

- We will suggest that the payment terms should be changed before the end of privatization. Participants in the previous phase of privatization partially financed purchase of companies from the banking loans. Due to global financial crisis, the banks are now cautious when approving these loans and that is why we are going to introduce a brand new model that will allow us to bring privatization to its successful end, just like we planned - Dinkić pointed out.

Pointing out that there aren't many public companies left for privatization, he specified that the changes in the law would enable payment of minimum 30% of the selling price in advance, while the buyers would be enabled to pay for the rest within the next five years.

- The state will be calculating interest on the rest of the debt, which should equal "euribor plus few percents", but that has not been defined yet. The buyer will become the owner of the company once he pays the last installment. In some way, that means that the winner on the tender is not becoming the owner the moment he signs the sales contract, but the moment he pays the last installment. That is, practically, the same as if the new owner had bought some public company on leasing - Dinkić explained.
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