Privatization Agency: We have not signed agreement to sell Vrsacki Vinogradi

The Privatization Agency of Serbia today announced that it had not signed an agreement to sell Vrsacki Vinogradi to China's Guan Nan.

Vrsacki Vinogradi's assets went on auction block on July 26th with Guan Nan being the only bidder, although the auction documentation had been purchased by four prospective buyers.

The Chinese company agreed to pay EUR 5.29 million for Vrsacki Vinogradi at the third public auction that was "organized completely in line with applicable regulations," the Agency said in a release.

This release reads that an agreement was not signed with the winning bidder because the Ministry of Finance and Economy, as a supervisory body, expressed "certain disagreement" with some elements of the draft agreement.