Zepter still without banking guarantee for IMT - deadline expires at midnight

The deadline for payment of the banking guarantee for purchase of Belgrade-based IMT expires at midnight (May 15, 2008), and consortium "HASS-SIP" has not yet paid the banking guarantee worth 12m EUR.

The consortium made of companies "Home Art & Sales Services" from Switzerland, of which owner is Filip Zepter, and "SIP Strojna industrija" from Slovenia needs to pay the guarantee by the end of the day and, in that way, oblige itself to pay the purchase price in amount of 121.1m EUR for the Industry of Engines and TRactors as the first-ranked bidder on the tender.

If the guarantee is submitted today, consortium "HASS-SIP" is obliged to pay the whole price one week after it get decision from the Commission for protection of competition. "Legal deadline for Commission to issue that decision is 120 days", said Dušan Belanović, the media representative of the Privatization Agency.