Auction for property of "Genex" on Kopaonik mountain on October 29

- Public auction for the property of company "Internacional CG" on Kopaonik mountain will be held on October 29 - Privatization Agency announced today (October 2, 2008). Deadine for submission of bids for purchase of the property of former "Genex" is October 22.

According to the invitation for interested buyers, which was announced at the end of July 2008, starting price for the property of "Genex" on Kopaonik mountain on the repeated tender will be 23m EUR.

On the first tender, which was announced in December 2007, starting price amounted to 45m EUR, but there were no obligatory bids.

Hotels "Grand" and "Sunčani vrhovi" (Suites "Konaci"), as well as 102 apartments and restaurant "Zvrk", will be offered for sale. The condition for participation in the auction is submitted guarantee worth 6m EUR and the proof that the interested buyer operates in the international market and that it owns a brand in hospitality business, as well as minimum 10 four-star hotels.

According to the investment program, new owner must keep existing hotels and suites within minimum next ten years, it must provide minimum four-star quality for hotel "Grand" within next two years and for hotel "Sunčani vrhovi" within next three years.
The buyer of the hotel on Kopaonik mountain will also have to keep 253 workers.