"Prva Petoletka" sold to consortium of Russian companies for 5m EUR

The Privatization Agency of Serbia announced today (January 22, 2009) that Trstenik-based Industry of hydraulics and pneumatics “Prva Petoletka“ had been sold to the consortium of two Russian companies for 5m EUR.

According to the announcement, the consortium of companies “Bummas“ and “Rosmasstorg“ promised to invest 30m EUR in “Prva Petoletka“ and accepted additional obligations in the social program.

The Privatization Agency announced the tender for united sale of capital of “Prva Petoletka Holding“, its 11 dependent enterprises and six independent companies on July 17, 2008.

Other bidder on that tender was the consortium made of Ukrainian company “Ljvovski autobusni zavodi” and British "City Transport Construction Investments".

Russian consortium won on the third tender for “Prva Petoletka". The first two tenders were declared unsuccessful because there were no interested buyers.