Company Zvezda Film on auction on July 18

Privatization Agency of Serbia has announced that the movie company "Zvezda film" from Novi Sad will be offered for sale on the auction on July 18th in Novi Sad at the starting price of about 224.1m RSD.

According to the web site of the Agency, the most important property of that company are four cinemas Arena, Jadran, Reks and Porta, at total surface of about 4,500 square meters.

"Zvezda film" owns eight movie projectors.

The condition for participation in the auction, which will be organized in the premises of Privatization Agency in Novi Sad, is the payment of the deposit in amount of 112.08m RSD or 1.37m EUR, and deadline for applications is July 10, 2008.

The minimum amount of investments in the company is 7.4m RSD.

Total estimated value of the capital that will be privatized is about 934m RSD or 11.4m EUR.

According to the Agency's data, total business incomes of "Zvezda film" in 2007 amounted to 32.38m RSD, while business expenses were 16.4m RSD. The company has 42 workers.