Uncertain finish of race for takeover of Putnik - Lučenko offered 3,700 RSD per stock

The new offer for takeover of the majority package of stocks, at least 70%, of travel agency "Putnik" has been delivered by Russian businessman Dmitri Lučenko from Sankt Petersburg as a physical person. He is ready to pay more than 23m EUR for 70% of stocks owned by the Share Fund and 15% of stocks owned by the minor stockholders (3,700 RSD per stock).

That is 100 RSD more than the offer delivered on March 12 by “Aciona”, Cyprus-based branch of Russian company “Metropol”. Russian businessman announced investment of 30m EUR in the rehabilitation of tourist potentials of “Putnik”, while "Aciona" offered 20m EUR.

Lučenko also accepted to pay the debts of the oldest Serbian travel agency, which amount to more than 700m RSD, as well as unpaid salaries of the employees (about 200m RSD). The workers would also be paid one-time gross compensation in amount of 600 EUR (100 EUR more than "Aciona" offered). He also announced that the required funds would be provided from the credit.

The Administrative Board of "Putnik" will take into consideration the new offer today (April 3, 2007), which will be followed by the talks with the minor stockholders and trade unions. If the Lučenko’s offer is accepted, that means that the new deadline will be set - April 23 – and “Aciona” will be able to change its initial offer, but it is not impossible that the new potential buyer appears.