Call announced for sale of 70.43 percent stake in Bajina Basta-based Elektroizgradnja

The Privatization Agency has announced a public call for the sale of a 70.43 percent stake or 291,581 ordinary shares of Elektroizgradnja from Bajina Basta (EBB). EBB is the leading manufacturer of equipment and machines for transfer and distribution of electricity in Serbia.

This Bajina Basta-based company is engaged in the production, planning, installation and maintenance of equipment for long-distance power lines, low-voltage grids and complete electrical installations. The company is also able to offer its customers turn-key solutions. As an authorized supplier of the Electric Power Company of Serbia, EBB has implemented JUS ISO quality system and it possesses the permanent sign of quality of the Electric Power Company of Serbia. EBB is also listed on the Belgrade Stock Exchange.

- In spite of the economic crisis and general illiquidity in the economy, EBB makes profits and it has improved solvency and reduced debts over the last three years. The company has recovered from the negative effects of the unsuccessful privatization in 2007 when former owners drew significant funds from EBB without having grounds for that. All liquidity and solvency indices show that EBB operated financially stable and that it was able to settle its financial obligations, both short- and long-term ones, continuously and without any disturbances and problems. The company has a significant potential for further expansion and diversification - reads the company's statement.

The public company Elektromreza Srbije (EMS) has recently publicly announced that it plans to invest 50-70 million euros per year in the electricity transfer system. There are also the announced investments of 5 main power supply companies within the EPS (EDB, Elektrovojvodina, Centar, Jugoistok, and Elektrosrbija) so that the annual value of investments in the electricity transfer and distribution over the next five years amounts to about EUR 100 million.