Zrenjanin-based "Dimničar" lost owner - cancellation of sales contract with Jovan Popović

The Privatization Agency of Serbia has cancelled the sales contract with businessman Jovan Popović who bought Zrenjanin-based company "Dimničar" in autumn 2007.

People from the Communications Sector of the Privatization Agency told "Dnevnik" that the sales contract had been cancelled on August 25th because the company had not had the continuity in operations after the privatization, that is, it had not been providing services that it was specialized for, and the social programme had not been respected.

Following the cancellation of the contract, the capital that was in the possession of Popović has been transferred to the Share Fund, which is going to appoint the representative of that capital.

When asked by "Dnevnik" if Popović had the right to lodge complaint, people from the Privatization Agency said that the cancellation of the contract was automatic and in accordance with the Law. It happened before that someone lodged complaint, but the court's decision in 90% of the case was that the Agency was right.

Jovan Popović bought company "Dimničar" for 7.2m RSD at the public auction that was held on September 20, 2007. The selling price was nearly 20 times higher than the starting one.