Serbian privatisation body cancels sale of Nevena to Bulgarian Bultsvet.

By bne IntelliNews October 28, 2010
The Serbian privatisation agency has cancelled the sale of the Serbian cosmetics producer Nevena to the Bulgarian company Bultsvet, according to information of the Serbian news agency Beta quoted by local daily Dnevnik. The information has been confirmed for Dnevnik on the part of the management of the Bulgarian company. The Serbian labour unions claim that Bultsvet has failed to complete social engagements. Bultsvet acquired 70% of Nevena in 2007 at the price of EUR 2.2mn. A total of 257 persons work at Nevena as compared to 575 in 2007.

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