Salford to sell its companies in Serbia in 2012

Salford investment fund, part of which is Danube Foods Group, plans to put two dairies in Serbia up for sale in 2012, as well as companies Knjaz Milos and Bambi Banat, Danube Foods Group Director General Slobodan Petrovic announced on Monday.

After presenting the export plans of Subotica-based Mlekara dairy, Mr. Petrovic said to the press that Salford would be selling its businesses in Serbia one after another, at the rate that would depend on the interest of investors.

- We are getting ready for the sale and talking with potential buyers - said Mr. Petrovic.

He added that he cannot reveal the names of potential buyers of Imlek dairy and Subotica-based Mlekara dairy that Salford was negotiating with because most of those companies were listed on the stock exchange and such information would affect the prices of their shares.

He said that the potential buyers were the largest and most famous manufacturers in Europe.

Salford started buying dairies in Serbia in 2003 and, according to the words of Petrovic, it has stayed in that business in Serbia for too long.

- We are the fund with an expiration date. Our investors have given us their funds to use over a definite period of time and make profits - said Petrovic and reminded that Salford had been preparing the sale of Knjaz Milos in 2008, but the sale of that and other companies within Danube Foods Group had been canceled because of the global economic crisis and the withdrawal of investors.