Commencement of negotiations about sale of IMR to consortium "Clear Vision Investments&Lilly Drogerie"

Privatization Agency of Serbia announced today (November 18, 2008) that the negotiations about sale of Industry of Engines Rakovica with the only bidder on the tender, consortium of companies "Clear Vision Investments" and "Lilly Drogerie", would start that day.

According to the announcement, the committee for negotiations about sale of 90.05% of stocks of IMR in restructuring will be formed within seven days.

Deadline for completion of negotiations is 60 days from the day the committee is formed, with the possibility of extension for another 30 days.

That was the third tender for sale of 90% of stocks of IMR in restructuring, which was announced in November 2007 and it was extended five times.

Factory IMR has about 860 workers and he is the owner of land at 22.3 ha. It produces diesel engines, tractors and spare parts, while total capital of the company is estimated at about 28m EUR, while the debts amount to about 33m EUR.

IMR’s incomes in 2007 amounted to 407m RSD, while the expenses were at 858m RSD.

Industrija motora Rakovica a.d. Beograd

Lilly Drogerie doo Beograd

Agencija za privatizaciju Republike Srbije Beograd prestala sa radom 29.01.2016.

Clear Vision Investments