"Prva petoletka" sold to Ukrainian-British consortium for 2.5m EUR

- The Privatization Agency and the Share Fund have signed the contract on sale of Trstenik-based holding "Prva petoletka" and its dependent and independent companies to the consortium of companies "Lvivski avtobusni zavody" from Ukraine and "City Transport Construction Investments" from Great Britain – the Privatization Agency announced today (April 10, 2009).

According to the contract, the selling price is 2.5m EUR, and the buyer is obliged to invest 60m EUR.

The buyer of “Prva petoletka” is the second-ranked bidder on the tender that was announced in July 2008. The contract with the first-ranked bidder – the consortium of Russian companies "Bummass" and "Rosmasstorg" – was signed in January 2009, but the buyer has cancelled the contract because of the economic crisis. The selling price in that contract was 5m EUR, while the investment programme was worth 30m EUR.

That was the third tender for sale of capital of "Prva petoletka" holding, its 11 dependent and 6 independent companies, and the first two tenders were declared as unsuccessful because there were no interested buyers.