Bids for Industrijski kombinat Guca opened - Uzice-based Oleks offers RSD 167 m

Trustees are slowly initiating sale of the imperia of a businessman from Sabac, Miroslav Bogicevic who is accused for causing a damage to the state totaling RSD 3,9 billion. Thus, Thursday saw the opening of bids for Industrijski kombinat Guca, and sale of Rudnik i topionica Zajaca has started.

The companies are under hammer from bankruptcy initiated by the International Financial Institution (IFC), a part of the World Bank , headquartered in Washington. IFC did it due to unpaid loans of EUR 70 and 120 m provided along with other Serbian banks – Intesa, Komercijalna banka and Cacanska banka. Bogicevic tried to prevent sales through pre-pack plan but he did not succeed.

Still, trustees do not have many reasons to be happy since it is hardly likely they will settle their claims from sale of two companies. Yesterday, only one offer of Uzice-based company Oleks operating in recycling came for the acquisition of Guca. Estimated value of capital at ICG is RSD 834 m and the only interested buyer is ready to pay RSD 167 m.

Combine with guarantees owns EUR 145 mil EUR, and EUR 29 m without them.