Tender announced for sale of Belgrade-based Splendid hotel

The Privatization Agency has announced a call for participation in a shortened tendering procedure for the sale of the 72-percent stake in the hotel-catering company Splendid in Belgrade.

A total of 19,617 shares worth RSD 1,000 a piece are offered for sale, 19,029 of which are in the possession of the Privatization Agency, while 588 shares are owned by the Share Fund.

All companies that own at least one four-star hotel and are already engaged in the hotel business can submit their bids.

Bidders must previously purchase a tender documentation, which costs EUR 8,000, and sign a non-disclosure agreement (NDA).

All interested companies can file their applications for the purchase of the tender documentation until June 6, while the tender documentation will be available as of April 24.

The deadline for submission of the final binding offers is June 26. Before that, all bidders must pay the deposit or submit an auction guarantee worth EUR 200,000.

Splendid hotel was built in 1937, it has four suites and 50 rooms, and it was first sold at an auction in 2008 for RSD 1.1 billion (about EUR 12 million) to Veselin Rutovic, a businessman from Montenegro.

The Agency terminated the contract with Rutovic because he failed to meet the contractual obligations and appointed a public capital representative in 2009.