Tender for Belgrade fair pronounced unsuccessful

(Belgrade fair)

Agency for privatization has announced today (August, 20th, 2009) that tender for sale of 70% of Belgrade fair capital is unsuccessful.

This decision has been made as the only bidder for the Belgrade fair, the Consortium of "Rimini" Italian fair and Belgrade based "Verano motors", is not ready to increase the starting price of 1,8 million EUR to at least 40 millions EUR.

The Consortium which offered investment program worth 35 millions EUR, as it was asked as a minimum, made announcement earlier that it was not prepared to increase the starting price because that would change tender conditions.

Government of Serbia announced that Belgrade fair was going to become state's ownership for a temporary period of time, while new conditions are met for its successful privatization.

Belgrade fair spreads on 22 hectares along the river Sava, in attractive part of Belgrade. The company's capital was estimated to be 20,5 millions EUR.

Belgrade fair owns objects of 106.241 square meters, within 6 exhibition halls of high category with exhibit space of 52.221 square meters.

In 2007, the company had a 15,32 millions EUR profit, and from 2003 to 2007 service profits were increased on average for 14,2% on annual basis.