Seven investors interested in petrochemical complex factories – Decision on model and method of privatization by late June

The public invitation for letters of interest in MSK Kikinda and the Pancevo-based Azotara and Petrohemija has been answered by seven potential investors, RTS reports.

In addition to them, as RTS says, there are several interested parties which have not sent letters, but which the working group is intensively negotiating with.

Novi Sad’s Promist, PFIC from Cyprus and KITE from Hungary are interested in Azotara, and KazMunayGas (KMG) from Holland and the Czech company J&T IB and Capital Markets are interested in Petrohemija.

Dong Shiwu Holdings from Hong Kong and the Japanese giant Mitsubishi are interested in MSK Kikinda.

Minister of Economy Goran Knezevic stated for RTS that the talks would continue in the coming period and he also expressed hope that the model and the method of privatization would be decided on in a month to a month and a half.

– Serious companies have answered the invitation and believe that at least a part of the petrochemical complex will be successfully privatized – Knezevic said.

As Blic learns, this is not the final list, as mailed bids are expected to arrive.

– It should be noted that letters of interest are not binding. These are potential purchasers, and they are in no way bound in this phase of the privatization. Furthermore, new potential investors will still be able to contact the ministry in charge and join the procedure of potential purchase of one these three companies. These days, we’ve been verbally contacted by some very important players in the industry – Blic’s interview reveals.

The Ministry of Economy of Serbia opened a public invitation for letters of interest in the privatization process in the three factories on March 30.

The deadline was May 3, and the bidders need to propose the indicative price, the investment plan, the business plan, the privatization model and the number of employees.

Petrohemija has factories in Pancevo, Zrenjanin and Elemir and 1,406 employees. The majority owner of Petrohemija is the Republic of Serbia (53.7%), whereas Srbijagas owns (13.9%) of the company’s capital.

Azotara has 808 employees, and Srbijagas owns 85.06% of the company’s assets.

MSK has 534 employees. Srbijagas owns 71.86% of the company’s capital, whereas the Republic of Serbia owns 24.8%.

MSK a.d Kikinda

HIP-AZOTARA d.o.o. Pančevo

HIP-Petrohemija a.d. Pančevo

JP Srbijagas Novi Sad

Vlada Republike Srbije

Promist d.o.o. Novi Sad

Ministarstvo privrede Republike Srbije

Metanolsko Sircetni Kompleks

MSK Kikinda

Azotara

Petrohemija

working group for petrochemical complex

Promist

PFIC

KITE

KazMunayGas

KMG

J&T IB and Capital Markets

Dong Shiwu Holdings

Mitsubishi

Goran Knezevic

Srbijagas

Government of Serbia

sale of petrochemical complex

petrochemical complex

sale of MSK

sale of Azotara

sale of Petrohemija