Government of Serbia adopted privatization strategy for NIS

Final strategy for privatization of Petroleum Industry of Serbia (NIS) was adopted by the Government of Serbia yesterday (July 20, 2006) at its regular meeting.

- The optimal variant suggested by the privatization councillor is that the future owner becomes owner of share of up to 49% of NIS through additional capitalization – said Radomir Naumov, Minister of Energy.

In the first phase, both potential buyer and State would have share of 37.5%. For the additional capitalization, according to the estimate of the Ministry, 250-300m EUR should be invested in NIS.