Fabrika reznog alata under hammer for EUR 2,33 m

Cacak (Photo: cacak.org.rs)

New price is by 35% lower than the previous one, published in public call for sale of plant in late May this year when the company in restructuring as of March 31, 2010, was offered for sale for USD 3,60 m. Changes occurred due to new capital estimation based on business results 2014 while previous estimation was based on balance 2013.

The plant communicated that the state, as a majority shares owner which is under hammer is ready to renounce app. 16 m of its claims and the future owner will have to purchase 42,35% of employees’ shares in one year at the price reached during state-owned package takeover.

FRA was set up in 1953 and at the moment it has 578 people and has been in the group of companies in restructuring whose bills, with the decision of the Government of Serbia, are protected by October 31 this year.