Italians to sell Senta-based TE-TO sugar plant for EUR 60 million?

After Greeks, Italians have also put their sugar plants in Serbia up for sale. As Dnevnik daily learns, the sugar plant TE-TO in Senta, part of the Italian group SFIR, will get a new owner, which will most probably be Austria's Agrana.

According to an unofficial information, the sugar plant in Senta will be sold for EUR 60 million. This information was not confirmed by people at the Senta-based sugar plant. Dnevnik was told that the management had not been informed about possible ongoing negotiations in Italy on the sale of that plant.

However, one could hear from people in the "sugar sector" that the negotiations on the sale of TE-TO had been underway since June and that the deal was expected to be concluded until early September.

When it comes to the price of that plant, people in the sugar industry are of the opinion that it is realistic and, for the sake of comparison, they mention the price of over EUR 150 million that the Greeks asked for the sugar plants owned by the national company Hellenic Sugar.

Italy's SFIR became the majority owner of the sugar plant in Senta in 2001 through recapitalization, and it has also acquired the bankrupted sugar plant in Srpska Crnja, which has been closed in the meantime.