Board of Creditors of FAS declines offer of Swiss Batagon International – Higher price required

The Board of Creditors of Fabrika Akumulatora Sombor (FAS) in bankruptcy has not accepted the purchase offer by the Swiss bidder Batagon International. Their bid equaled EUR 3.5 million, and the estimated value of the car-battery producer is EUR 24.57 million. The price offered amounts to less than a half of the estimated value, and the Board of Creditors therefore deems it too low.

Predrag Ljubovic, the bankruptcy supervisor, will notify representatives of the Swiss company of this.

As Ljubovic says, negotiations with the company will be continued in order to reach a more favorable bid.

Swiss businessman Dejan Simic stated on the occasion of the opening of the bid that, if the creditors approved of the purchase of the factory, the new owners planned to invest a million euros in it in the first quarter. The factory would primarily produce for the markets of Russia, Germany, Switzerland, Italy and France. Initially, they would hire 400-450 workers, whereas the number would later reach 800.

Black Horse- FAS doo Sremska Mitrovica

Fabrika Akumulatora Sombor

Batagon International

sale of Fabrika Akumulatora Sombor

Predrag Ljubovic

Dejan Simic

car batteries

batteries