MK Commerce buys Apatin shipyard for RSD 150 million

By the decision of the Board of Creditors, the bankruptcy manager of the Apatin-based company is authorized to sell the shipyard to the company MK Commerce from Novi Sad for RSD 150 million, TV Apatin announced today.

The Creditors' Assembly previously appointed Bi-Audit from Belgrade as the fifth member of the Board of Creditors, thus creating formal conditions for making a decision on the sale.

After a competent court verifies this act, a sales agreement will be signed with the new owner, which is expected to happen within next few days.

The new owner should pay the difference between the deposit and the agreed price, which is about RSD 34 million.

MK Commerce is part of MK Group, which is owned by businessman Miodrag Kostic.

MK Commerce was the sole bidder at the public auction for the sale of this company, and it paid the deposit and offered the purchase price of RSD 150 million.

Since the price offered by the company MK Commerce was below 50 percent of the estimated value of the shipyard, the Board of Creditors had to vote and make a decision on the further destiny of the company.

Since the Board's meeting was not attended by sufficient number of members, a meeting of the Creditors' Assembly was summoned and a representative of Bi Audit was appointed as the fifth member of the Board, replacing the representative of the Deposit Insurance Agency in that position.