New attempt at privatization of Preduzece za vodne puteve Ivan Milutinovic-PIM: Price twice as low

The Ministry of Economy has opened a public call for participation in the procedure of the privatization of the company Preduzece za vodne puteve Ivan Milutinovic-PIM Beograd. This procedure is to be carried out through the method of a public tender with public bidding, and the subject of the sale is a set of shares comprising 65.03% of the company’s capital

According to the report of the authorized valuer, the total estimated value of the company’s capital as of December 31, 2023, is EUR 31,494,772, and the starting price for the sale of the capital is set at EUR 10.24 million. Let us remind that, at the previous privatization attempt, the starting price was EUR 20.48 million, and the Ministry of Economy pronounced it unsuccessful, because no bid had been made by the potential purchasers.

Bids are to be opened on December 25, and more details (in Serbian) can be found HERE.

According to their official website, the company has a long and successful tradition of the construction of ports and other facilities in various parts of the world.

PIM has operated under its current name since 1952, but the beginning of the company’s activities dates back to the 1920s. That is when the first works on the rivers Danube and Sava on the Yugoslav territory were carried out. Several smaller companies in the then Yugoslavia which specialized in excavation, construction and sewerage and which had carried out various works on the rivers between the two world wars joined together in 1951 into a company called Dunav. In 1952, Dunav was renamed as Preduzece Ivan Milutinovic-PIM.

I. Z.

Ministry of Economy

Ivan Milutinović PIM AD Beograd

privatization of Preduzeće za vodne puteve Ivan Milutinović PIM