Kazakh company Zhol Zhondeushi buys Novi Sad's ZGOP for EUR 3.6 million

(Muradov Khuram and Goran Knezevic) Minister of Economy Goran Knezevic signed an agreement with CEO of Zhol Zhondeushi LLP Muradov Khuram on the sale of the assets of Stock Company for Construction, Capital Overhaul and Maintenance of Railway Lines ZGOP a.d. Novi Sad today.

The company submitted the sole bid in the public collection procedure with public bidding initiated by the Ministry of Economy on September 2, 2016, for the sale of 90.64033% of ZGOP's assets. The decision to pronounce Kazakhstan's Zhol Zhondeushi LLP the purchaser was reached on December 26, 2016 at the suggestion of the procedure commission.

As stated by the ministry, the starting price for the sale of assets was EUR 3,632,654, the amount the purchaser has obliged to pay in cash for 90.64033% of ZGOP's assets.

The agreement was signed under suspensive condition, as the purchaser must submit the opinion of the Commission for Protection of Competition to the Ministry of Economy, the report says.

Zgop a.d. Novi Sad

Ministarstvo privrede Republike Srbije

ZGOP Novi Sad

Zhol Zhondeushi

Goran Knezevic

Muradov Khuram

sale of ZGOP

purchase of ZGOP

railway overhaul

railway construction

railway maintenance