Matijevic looking to purchase Banini

For now, the companies interested in ownership over the Kikinda-based company Banini include Jaffa and Industrija Mesa Matijevic, owned by Petar Matijevic. Both companies have bought the tender documentation for RSD 500,000 each, thereby confirming unofficial announcements that they are willing to take over the renowned Kikinda factory, which has been put up for sale as part of the bankruptcy proceedings by the decision of the Commercial Court of Zrenjanin, with consent of the biggest creditors.

The auction has been scheduled for March 21. The starting price of Banini's entire property is EUR 15 million, which is half its estimated value. Economists believe that the future owner will be able to quickly return the money spent on this acquisition though production, provided that the price for the ruined confectionery producer doesn't balloon up during the auction.

Banini has been blocked for a long time now. Its facilities, production, sales network and trademark were previously leased under, to put it mildly, unusual circumstances to the subsidiary Konditori Malencic, whose 100% owner is Branko Malencic, one of the owners and managers of Banini. Malencic got all the employees as well at the time.

In the meantime, the police entered the factory and began performing a thorough examination of its business documentation. Criminal charges against the key people in Kikinda's confectionery industry, Radojko Stanic and Branko Malencic, followed in late 2016. They have been charged with several acts of corporate crime causing the creditors and the state to lose several hundred million dinars. The criminal procedure is under jurisdiction of the Higher Public Prosecutor's Office in Zrenjanin and is in its initial stage.

Konditori Malencic found itself blocked a month ago as well. Around 580 workers whom Banini took over are mostly idle and have had 60% of their salaries promised to them. They are occasionally invited to the factory in small groups in order to meet the contracted obligations towards the customers. They all hope that the new owner, whether it's the Serbian meat king or someone else, will be a serious businessman and that he will bring them back to their jobs.

Banini a.d. Kikinda

Jaffa a.d. Crvenka

IM Matijević d.o.o. Novi Sad

KONDITORI MALENČIĆ d.o.o. Kikinda

Privredni sud u Zrenjaninu

Više javno tužilaštvo Zrenjanin

AD Banini in bankruptcy

sale of Banini

Banini

Fabrika biskvita Jaffa

Jaffa Crvenka

Jaffa

Konditori Malencic

Petar Matijevic

Commercial Court of Zrenjanin

Higher Public Prosecutors Office Zrenjanin

confectionery industry of Serbia

Branko Malencic

Radojko Stanic

sale of Banini Kikinda

privatization of Banini