Galenika's strategic partner needs to repay EUR 50 million debt to banks - Possible write-off of EUR 120 million debt to state

A call for the privatization of Galenika should be issued in some ten days, Serbian Economy Minister Zeljko Sertic announced Tuesday and added that the state was already in contact with certain interested multinationals.
- We want to find a strategic partner for Galenika and see who will answer our call. Now we are in contact with several large international companies that have previously expressed readiness to work with the state on the Galenika privatization process - said Sertic.
He reminded that the former pharmaceutical giant had huge debts from the past, calling them a serious burden, although Galenika was operating well at the moment.
- Our request for the strategic partner is to repay commercial loans to banks, which is a debt of over EUR 50 million. Galenika also owes more than EUR 120 million to the government sector that we can write off in the privatization process, but it is in our interest that the state gets as much of that money as possible - the minister explained.

Galenika a.d. Beograd

Ministarstvo privrede Republike Srbije

Galenika

privatization of Galenika

Galenika privatization

Zeljko Sertic