TRPKOVIĆ: Unacceptable offer for Belgrade Trade Fair

The Director General of the Belgrade Trade Fair, Anđelko Trpković, estimated today (July 14, 2009) that the bid submitted by the consortium comprising Italian Trade Fair "Rimini" and Belgrade-based company "Verano Motors" was unacceptable.

- That consortium has offered the price of 1.8m EUR for 70% of capital of the Belgrade Trade Fair, which is far below the value of the company - Trpković told Beta agency.

He did not want to estimate the real price of the Belgrade Trade Fair and said that the privatization advisers were in charge of that, but he pointed out that the information on the company's operations were the best indices of its market value, especially in record year 2008.

Last year's profit of the Belgrade Trade Fair amounted to 160m RSD, while its turnover reached the amount of 1.4 billion RSD.

- About 6,000 exhibitors participated in the manifestations that were organized at the Belgrade Trade Fair in 2008, and they presented themselves at 220,000 square meters of indoor exhibition space - said Trpković and pointed out that the turnover at the trade fair had been almost doubled since 2004.

He estimated that there were conditions for the Belgrade Trade Fair to develop and achieve even better results in the future.

- I expect that the Privatization Agency will close the tender for the Belgrade Trade Fair, in accordance with the regulations, after which the ministries of economy and trade should make the plan for future development of the company that has great potentials and is very significant for Serbia's economy - Trpković pointed out.

People from the Ministry of Economy also told Beta that the bid for the Belgrade Trade Fair was unacceptable, but they said that the tender commission would make the final decision.

According to that Ministry, the estimated value of the Belgrade Trade Fair ranges between 27 and 40m EUR.

The consortium comprising Trade Fair "Rimini" and "Verano motors" announced that it would give comments on the estimates of the authorized ministry that the bid was unacceptable.

In addition to the price of 1.8m EUR for 70% of capital of the Belgrade Trade Fair, that consortium has also accepted the obligation to invest 35m EUR and finances minimum obligations from the social programme.

That was the only bid on the tender for sale of the Belgrade Trade Fair, which was announced in December 2008.