U.S. and Serbia compete for Slovenian “Droga Kolinska”

Slovenian daily newspaper “Dnevnik” has written in today’s edition (August, 20th, 2009) that the American “Texas Pacific Group” is interested in purchase of “Istrabenz” company “Droga Kolinska”, along with at least one Serbian company.

TGP did not have any comment to “Dnevnik” question about the alleged purchase of “Droga Kolinska”.

Serbian company, interested in the same purchase is willing to cooperated with “Droga Kolinska” Management President, Slobodan Vucicevic, who is Serbian citizen.

According to “Dnevnik” source, Mr. Vucicevic already talked with two companies from ex-Yugoslavian territory – “Marbo” from Bosnia and Herzegovina and “Centroproizvod” from Serbia, about a “possibility of the ownership of “Droga Kolinska”, which has in its property two Serbian companies “Grand prom” and “Soko Stark”.

“Istrabenz” Management President, Bogdan Topic, who allegedly visited Belgrade yesterday, stated earlier this week that “there will be no sale of “Droga Kolinska”, according to “Dnevnik” newspaper.

In today’s article “Dnevnik” also says that “the sale of “Droga Kolinska”, which is crucial for payment of “Istrabenz” financial obligations, will depend not only on the price but of the bankers’ will as well.

The banks, as Board members will have the main role in the possibility of property sale in the procedure of enforced settlement.

“Dnevnik” also warns that several of “Istrabenz” banks is in credit arrangement with “Droga Kolinska” which is the reason why the possible sale is connected with the plans of the new owner.