Company "Hipodrom Beograd" on auction in March

Public invitation for sale of "Hipodrom Beograd" (Hippodrome Belgrade) in bankruptcy will be announced within following 10 days.

The auction should be held in the second half of March 2007. The Privatization Agency o f Serbia expects that Hippodrome will get new owner prior to the beginning of the next racing season.

The most valuable property owned by that company is the Contract on use of land, which was signed with the Parliament of City of Belgrade back in 1988, on period on 30 years.

"Hipodrom" went bankrupt on March 7, 2006, due to big debts of that company. The estimated value of the property of "Hipodrom" is about 70m RSD, while the starting value on the auction will be 45m RSD.