Jagodinska Pivara finds buyer – Offered price lower by 50% than estimated value, creditors to decide

The company Fabrika slada, piva, kvasca i bezalkoholnih pica A.D. Jagodinska Pivara in bankruptcy, has found a purchaser, which offers a price 50% lower than the estimated value.

– In this case, the bankruptcy supervisor is obliged to get consent from the Board of Creditors before accepting the offer – Igor Draskic of the Company Auction Center told Tanjug.

The decision could take up to 10 days.

The Bankruptcy Supervision Agency advertised the sale of Jagodinska Pivara at the estimated value of RSD 711 million. The bankruptcy supervisor was “obliged to accept the highest bid if it is above 50% of the estimated value” and to seek consent from the Board of Creditors if it is below 50%, the ad says.

At this price, Pivara was also auctioned on December 4, 2018, but no one paid the deposit, which was RSD 142.2 million at the time as well.

Jagodinska Pivara is one of the oldest companies in Serbia, founded in 1852. The Commercial Court in Kragujevac reached the decision on the initiation of bankruptcy proceeding on March 24, 2016, due to a permanent insolvency, that is, the bankruptcy debtor's account being blocked for a longer period of time.

The current account of Jagodinska Pivara had been blocked since June 2, 2015, for the amount of around RSD 900 million.

Due to the previously announced possibility of the initiation of bankruptcy proceedings, all the 145 remaining employees applied for a voluntary leaving with a social program, which they were given, as the former union leaders at the company told Tanjug. The brewery has not been operational for more than a year and a half.

Jagodinska pivara a.d. Jagodina

Agencija za licenciranje stečajnih upravnika Beograd

Privredni sud Kragujevac

Jagodinska Pivara

Bankruptcy Supervision Agency

Company Auction Center

sale of Jagodinska Pivara

purchaser of Jagodinska Pivara

Igor Draškić

Jagodinsko Pivo