Serbia puts largest agricultural company PKB up for sale

Serbia puts largest agricultural company PKB up for sale
/ Grozni Laki
By bne IntelliNews August 10, 2018

Serbia’s Ministry of Economy has opened a tender for the sale of property of Serbian agricultural corporation Poljoprivredna Korporacija Beograd (PKB), with a starting price of €104.5mn, business portal Ekapija reported on August 8. September 10 is the deadline to submit bids. 

PKB was the biggest agricultural company in former Yugoslavia and now is the biggest in Serbia, with 29,000 hectares of land near Belgrade. The government has been looking for sustainable solution for the company, designated for privatisation initially by end-2015.

The offer includes not just the property of PKB, but also the property of its subsidiaries – Ekolab, Institut PKB Agroekonomik and Veterinarska Stanica PKB — as well as 6,785 hectares of land in Belgrade’s municipalities of Palilula and Surcin and in the northern town of Zrenjanin, office buildings, equipment, spare parts and cattle, Ekapija reported. The initial price was equal to about a half of estimated value of the property.

Eligible tenderers for PKB’s property are companies whose primary activity is agriculture and/or trade of agricultural products, which had an income of at least €400mn in the previous year either independently or on a consolidated basis. A consortium meeting the terms of the tender is also eligible, according to the Ekapija.

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