Tender for privatization of "Jat Airways" - minimum price for 51% of the capital is 51 million EUR

Minimum price for 51% of "Jat Airways" capital is 51 million EUR. Tender for privatization of the national air transporting company has been published today (July, 31st, 2008) in domestic newspapers and in the British "Financial Times". The potential buyers have the opportunity to become owners of at least 51% or maximum 70% of the capital. Offers can be submitted by October, 24th, 2008. Bidders have to pay a deposit or auction guarantee of 2 million EUR.

As it was announced, the right for participation have only the companies involved in air transportation. This means that they already have recognition of their capabilities - AOC and that they transported 1,3 million passenger in the last year. Consortiums can also participate.

The Government of Serbia allowed potential buyers to decide themselves about the share they wish to buy. By this, air transporters which are not from EU can also participate in the tender, but consortiums only with partners from EU or Serbua. According to the Agreement about the opened sky, air transporters which are not from EU nor Serbia cannot be the owners of more than 49% of JAT. However, for example, Russian Aeroflot can become the owner of 49% of the capital, and another partner from EU can take 2% of the ownership.

Agency for privatization keeps its right to change all elements of the tender including due date.

For the purchase of tender documentation it is necessary to give 25.000 EUR. Potential buyers should submit some proof about mentioned conditions and criteria, so they could buy tender documentation by September, 26th, 2008.

Tender documentation will be available from August, 22nd.