Company "NP CO" interested in takeover of Kragujevac-based "Autosaobraćaj"

Company "NP CO" from Belgrade has bought over 10% of workers' stocks of Kragujevac-based "Autosaobraćaj" on the Belgrade Stock Exchange.

The Belgrade-based company, which is one of the largest importer of euro-diesel in Serbia, is also interested in purchase of state-owned package of 40% of stocks of "Autosaobraćaj", which would make it the majority owner of the largest and the most significant transportation company in Šumadija, which was privatized according to the legal regulations from the time of Slobodan Milošević.

In the previous negotiations on takeover of the majority package of stocks of "Autosaobraćaj", the participants in which were the representatives of trade unions and city management, it was agreed that "NP CO" should register 19 city buses, of which procurement on leasing was blocked because the deposits had not been paid, and pay allowances for health insurance for about 760 employees in "Autosaobraćaj". Trade union organizations that operate within "Autosaobraćaj" agree that the conditions for final privatization of that company have been created, but they insist that local self-government participates in the negotiations with company "NP CO" until they end.

"Autosaobraćaj", once successful and respectable company, is on the edge of collapse for years, the proof of which is the debt of about 5m EUR.