Privatization Agency terminated another seven contracts

The Privatization Agency of Serbia announced yesterday (February 10th, 2010) that it had terminated the contracts on privatization of seven companies.

It is stated in the announcement that the Agency canceled the contracts on privatization of Belgrade-based companies Spekta, Brodarstvo and Karaburma, Veterinarian Station from Irig, Žitoprometa from Zaječar, as well as companies Reč Naroda from Požarevac and Suvobor from Gornji Milanovac.

It is pointed out that the contracts were terminated because the new owners failed to fulfill the obligations related to payment of installments, maintenance of the continuity of operations and respecting of the social program.

In accordance with the Law, the capital of these companies will be transferred to the Share Fund of Serbia.