Tender for the sale of “Belgrade fair” in the first three months of 2008 – elections of privatization advisor are in the final stage

Public invitation for participation on tender for the purchase of “Belgrade fair” will be launched in the first three months of the next year, as it was said by the Agency for privatization.

As it was pointed out, the elections of privatization advisor are in the final stage, and it would be followed by the usual procedure, that is it will be given certain time to the advisor to analyze company’s business activities and to determine its position on the market in order to give his opinion.

The usual deadline for this analysis is from 60 to 90 days, and even longer if necessary, for the preliminary estimation of the capital, for proposal of privatization method, but also this period serves for determination of any advantages or flaws of the company in preparation for sale.

Privatization of “Belgrade fair” has become actualized in November of the last year when Agency for privatization announced a prospect for sale of 70% of the capital of this company which is in the ownership of the city of Belgrade and of the Republic of Serbia.

The story of privatization has been re-opened again in April of this year, when the Management of this company announced that 4 companies had submitted their letters of interest for the purchase, among whom was Austrian organizer of experts’ fairs “Reed Exhibitions”.

The company has in its property 239.938 m2 of building land and objects of 97.105 m2 within which dominates the exhibition space. Overall there is 14 halls, management building, various warehouses and a large restaurant.

The incomes of “Belgrade fair” in 2006 were more than 13,8 millions EUR, while net profit for 2006 was around 1,1 million EUR. There are 242 employees, out of which 66 with MA experts’ degrees.