Serbian economy ministry in new attempt to sell brewery

NEWS 16.11.2018 12:28
Source: Shutterstock

Serbia’s Ministry of the Economy has halved the asking price for the Valjevska Pivara brewery following a failed attempt to privatize it in September.

Friday’s statement said that the brewery is being sold at a starting price of 3.5 million Euros which is half of its assessed value with a deadline of December 17 for offers to be submitted. The ministry advertised the sale of the brewery in September at a starting price of seven million Euros but received no offers.

The ministry statement said that Valjevska Pivara has some 190 employees and is operating with a profit.

The brewery was taken over by the government following a failed privatization attempt in 2003 when the Belgrade-based Atlas Group consortium bought it for 20 million Dinars (1 Euro – 68 Dinars at the time according to NBS data). It went into bankruptcy in 2010 because it could not service its debts.