One bid for Fabrika Akumulatora Sombor – Swiss Batagon International offering EUR 3.5 million

One company, Batagon International from Switzerland, is interested in purchasing Fabrika Akumulatora Sombor in bankruptcy, as a legal entity. They have submitted a bid worth EUR 3.5 million. The value of the car battery producer has, however, been estimated at EUR 24,57, so the final decision on whether the bid is good enough, despite amounting to less than a half of the estimated value, will be reached by the Board of Creditors, reports the SOinfo.org portal.

The public opening of the bids for the Sombor factory was held on Thursday, July 20, 2017.

The bankruptcy supervisor, Predrag Ljubovic, advertised the sale of FAS (along with a part of the property) as a legal entity separately from the sale of several other lots – facilities and equipment of Trgosirovina, office space, two double-room apartments in Sombor, two farms and 88 vehicles.

Batagon International bough Trgosirovina, known to people of Sombor as the dump at Severtrans, for EUR 305,000, exceeding the estimated value of EUR 272,525, SOinfo.org reports.

The seat of Batagon is in the Swiss town of Zug. Swiss businessman Dalibor Matic attended the bidding in Sombor in the company of former vice governor of the National Bank of Serbia Dejan Simic.

– The bankruptcy supervisor notified the Batagon representative of the fact that the bid amounted to less than a half of the estimated value of the lot being sold and that it would be submitted to the Board of Creditors to decide on. If the board deems the offered price acceptable, the bankruptcy supervisor will be authorized to sign a sales and purchase agreement with Batagon – SOinfo.org reports.

– The factory needs big investments, new equipment, staff training, new management... We would also be solving the problem of environmental protection successively, but that will be decided on when we take over the factory. The factory would primarily produce for the markets of Russia, Germany, Switzerland, Italy and France. We believe that our offer is quite decent, considering that the factory has not been operational for a long time and that it has lost a lot of its value. A lot needs to be invested here. An investment of EUR 1 million is needed just to bring the factory back to its former condition, and then the technological capacities and the production need to increase as well – Dalibor Matic stated.

– I think we should start with 450-500 workers and later go up to 800, which, as far as we know, is how many there used to be before. Our Swiss laws oblige our subsidiaries in other states to pay attention to environmental protection, but it's still hard to say what precisely needs to be done – Matic said, as reported by SOinfo.org.

Black Horse- FAS doo Sremska Mitrovica

Koncern Farmakom MB Šabac

Batagon International Switzerland

Dalibor Matic

Dejan Simic

car batteries

Trgosirovina

sale of Fabrika Akumulatora Sombor

Predrag Ljubovic

bankruptcy

Zug