Three investors eye Zelezara Smederevo

(Photo: zelsd.rs)

Three serious investment groups have expressed interest in Zelezara Smederevo steelworks, Smederevo Mayor Jasna Avramovic told Tanjug news agency on Friday (10 January 2014). Negotiations on the takeover of this steel plant in Smederevo could be ended in the first months of this year.

- What I know as the mayor is that a prospective strategic partner had serious talks with the Serbian government in late 2013 about the takeover of the steelworks. I expect this issue to be resolved in the first half of 2014 - Avramovic told Tanjug.

She was unable to name the investors who expressed the interest, but she pointed out she was optimistic because all three potential partners offered good programs.

Negotiations with these investors were very intensive in December 2013 as well as in the first days of this year.

According to the Belgrade daily Novosti, the investment fund Westwood, which is interested in Zelezara Smederevo, should make a decision within the next two months on whether to enter into strategic partnership or acquire the 100-percent stake. Westwood, whose representatives have been staying in Serbia since Thursday (January 9th), is ready to invest about USD 450 million in the Serbian steelworks.