Results of privatization of RTB Bor to be known in the first half of 2018 - Transaction to be completed by the end of the year

Source: Politika/Beta Tuesday, 20.02.2018. 09:08
RTB Bor (Photo: Ljubiša Aleksić/RTB Bor)RTB Bor
The privatization procedure in RTB Bor is going according to schedule and the results will be published in the first half of 2018, Beta reports.

The cabinet of Prime Minister Ana Brnabic says that the realization and the completion of the transaction are expected by the end of the year. They emphasize that the government and the competent institutions are working as fast as they can in order to bring the process to a close as efficiently and successfully as possible.

– Keeping in mind the high strategic importance of RTB Bor, which is currently undergoing a PPRP, as well as the very complex structure of this transaction, that is the privatization, any sort of rushing can only do harm – the cabinet says, as reported by Beta.

According to today's issue of Politika, the tender for privatization or strategic partnership for RTB Bor, announced for the end of March, has been moved to the end of the second quarter due to the company's good results.

RTB Bor announced that it had had net profit of USD 42.3 million in 2017 and that it regularly paid all its current obligations and obligations arising from loan arrangements.

The only producer of copper, gold and other precious metals in Serbia had revenues of USD 302 million and expenditures of USD 218 million last year.

The initial deadline was defined in line with the memorandum signed between Serbia and the IMF following the eighth review of the arrangement.

Minister of Economy Goran Knezevic said that four foreign companies were interested in RTB Bor, among them the Russian Copper Company.
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