Third auction for sale of Kruševac-based "Zvezda" on April 10th

The Privatization Agency has announced the public invitation for participation in the third auction for sale of textile company "Zvezda" from Kruševac, which will be held on April 10th.

- We expect that the new attempt of sale will be be successful – the Director General of "Zvezda", Živan Nikolić, told Beta and added that the company was working at full steam and that it would be fully employed prior to May 1st.

All interested buyers can apply for participation in the auction prior to April 2nd, and they can visit the factory between February 12th and April 1st, after they buy the documentation and sign the contract that obliges them not to reveal the confidential data.

The starting price of "Zvezda" is the same as it was at the second auction – 58.6m RSD, which is about 28m RSD less than at the first auction.

In order to participate in the auction, interested bidders must lay the deposit in amount of 29.9m RSD, and the new owner will be obliged to invest 5.7m RSD in the company.

The last year’s incomes of "Zvezda", which had been in bankruptcy until mid-2005, amounted to 58.4m RSD, while the expenses amounted to 72.3m RSD.

Nikolić said that the keeping of all 225 workers was the aim of the ongoing negotiations with business partners about sewing of other textile goods.

The administrative building and factory are situated in Kruševac’s downtown. The company has 11 outlets, 4 of which in that city and seven in other cities in Serbia.