"Savremena administracija" sold for 5m EUR to Serbian-Cypriot consortium

Privatization Agency of Serbia has sold publishing-printing company "Savremena administracija" for 5m EUR to the consortium made of "Broadhurst investments limited" from Cyprus and Belgrade-based "Srbijateks".

According to the announcement of the Agency, that consortium bought 68.94% of total assets of "Savremena administracija", and the buyer accepted mandatory investment program worth 500,000 EUR and additional obligations from the social program.

"Savremena administracija" deals with printing and publishing of forms, books, magazines and newspapers, and the most important property of the company is the Administrative building in Belgrade with the printing house and warehouses whose total surface is about 10,000 square meters. Production capacity of the company is about 10 tons of paper for eight hours of work. Savremena administracija also owns three stores in the centre of Belgrade, as well as one store in Niš, in Zrenjanin and in Novi Sad.

The other bidder on the tender for "Savremena administracija" was the consortium of companies "Media II" and "Media" from Belgrade. The decision that Consortium of "Broadhurst investments limited" and "Srbijateks" should be the first-ranked on the tender was made unanimously by the Tender commission on July 17, 2007.