SISU a step closer to Priboj - Finish company met tender terms for FAP

Finish "SISU car" met all the requirements of the tender for the selection of a strategic partner for Fabrika automobila Priboj (FAP), the Agency for Privatization announced on Tuesday, May 5, 2015.

The company was the only bidder at tender for FAP and the offer will be delivered to privatization adviser to estimate whether it is acceptable.

"The Commission stated the offer contains all the elements in line with the Instruction for bidders and it decided that the copy of the offer is delivered to privatization adviser having in mind documentation volume and the need for its further analysis", it was stated in the announcement.

February 20, the Agency for privatization released tender for sale of FAP and March 20 it extended deadline for delivery of offers for the selection of a strategic partner which will set up new company together with the Republic of Serbia.

Minimal stake of a strategic partner is at least a million euros in cash and EUR 5 m in property or rights.

The stake of the Republic of Serbia in new company will be a part of property at FAP which the state acquired through exchange of claims for ownership.

The Government of Serbia and "SISU car signed May 30, 2014 in Priboj Memorandum which implies that the company takes over a part of property at FAP where it would start production of new trucks and components for trucks. The minister of trade, Zeljko Sertic, said that if FAP gets strategic partner, there are many options to step into the privatization of other parts of the plant such as Livnica for which there are interested buyers.