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UAE-based Al Dahra offers 105 mln euro for Serbia's PKB

Author Radomir Ralev
UAE-based Al Dahra offers 105 mln euro for Serbia's PKB Source: Serbian Privatisation Agency

BELGRADE (Serbia), September 14 (SeeNews) - UAE-based Al Dahra Agricultural Company has placed a 105.05 million euro ($122.9 million) cash offer for the acquisition of Serbian state-owned agricultural company Poljoprivredna Korporacija Beograd (PKB), a Serbian economy ministry official said on Friday. 

"Al Dahra offers 105.05 million euro for the acquisition of the assets of PKB, a 29% stake in Eko-Lab and 45.77% of the capital of Institut PKB Agroekonomik," the official said in a video file posted on the website of news agency Tanjug during the opening of the financial offer of the UAE-based company.

The offer is binding and unconditional and was filed with the economy ministry on September 10, the official said. 

Serbia's finance minister Sinisa Mali said on Thursday that a single bid was placed in the tender for privatisation of PKB without disclosing the name of the candidate. The deadline for submitting bids expired on September 10.

Serbia launched the PKB tender at a starting price of 104.6 million euro last month. The tender was open to legal entities mainly active in agriculture and trade in agricultural products.

The Serbian government owns 98.2% of the capital of PKB, which in turn owns 71% of Eko-Lab and 54.23% of PKB Agroekonomik. The government directly owns a 23.62% stake in PKB Agroekonomik. Shareholder funds control 29% of Eko-Lab and 22.15% of PKB Agroekonomik, respectively, according to the tender notice, published on the website of Serbia's privatisation agency.

($ = 0.854571 euro)