"Prosveta" sold to "IPS" for 3.2m EU

The Privatization Agency signed the contract yesterday (June 25, 2009) on sale of publishing company "Prosveta" to publishing and trade company Media II, that is, IPS, for 3.2m EUR.

- The buyer promised to invest minimum 200,000 EUR in "Prosveta" within the next two years and accepted minimum obligations from the social programme, as well as some additional elements - it is stated in the announcement.

The tender for sale of 69.7% of "Prosveta" was announced in November 2008, while the first-ranked bidder on the tender was the consortium comprising Singidunum University and company "Zepter Book World", which offered the price of 5.7m EUR.

That consortium did not sign the contract after extension of the deadline, and it gave up the procurement because the Privatization Agency did not allow it to change the purpose of bookstore "Geca Kon" in Knez Mihailova Street in Belgrade.

According to the tender terms, the buyer of "Prosveta" must stay in publishing business and keep the purpose of bookstore "Geca Kon" for, at least, next ten years.

Media II was the second-ranked bidder on the tender.

The owner of "Media II" is holding company "IPS". That company deals with publishing and trading in books, as well as technical goods, toys and bags. IPS has bookstores in Belgrade, Novi Sad, Kragujevac, Niš, Šabac and Obrenovac, as well as in Podgorica.

The state has, so far, owned 99% of Prosveta, of which property has been estimated at 6m EUR.

Prosveta a.d. Beograd

IPS - Media II d.o.o. Beograd

IPS - Media II d.o.o. Beograd

Agencija za privatizaciju Republike Srbije Beograd prestala sa radom 29.01.2016.

Univerzitet Singidunum Beograd

Zepter book world d.o.o. Beograd

KNJIŽARA Geca Kon Beograd