Auction for sale of Kruševac-based "Zvezda" postponed until January 29th, 2010

- The Privatization Agency of Serbia has postponed the auction for sale of Textile factory "Zvezda" from Kruševac until January 29th, 2010 - people from that company told "Beta" agency today (December 7, 2009).

This fifth auction was initially scheduled for December 11th, and the terms of sale that were announced in that public invitation remained the same.

At the fifth auction, "Zvezda" will be offered for sale at the starting price of 13.27m RSD, which is 6.5 times less than at the first auction, in December 2008, when the starting price amounted to 86.9m RSD.

The Director General of the Kruševac-based factory, Živan Nikolić, told "Beta" that the auction had been postponed because none of the potential buyers had bought the auction documentation prior to the expiration of the deadline.

Nikolić said earlier that "Zvezda" had contracts for works in 2009 with local clients - Niš-based company "Edi Triko" and Pančevo-based "MGS Tex", which should, as he explained, ensure normal functioning, while the cooperation with foreign clients had been discontinued because of the economic crisis.

The factory obtained 2.5m RSD worth of subsidized loan for capital funds from the Ministry of Economy and Regional Development, and it sold two outlets in Ćuprija and Lučani after the Privatization Agency had given its consent for that.