Serbia to launch RTB Bor privatisation tender by end-March
Serbia has launched a call for a privatisation adviser for RTB Bor, and discussions with potential investors are ongoing, including on addressing environmental risks, the government said in a letter of intent sent to the International Monetary Fund (IMF) following the completion of the Eighth Review of Serbia’s Stand-By Arrangement (SBA).
This year the company has been meting all its financial obligations, including taxes, wages, and electricity, the government said. A Serbian court approved in July 2016 a plan for the restructuring of RTB Bor, allowing the write-off of 90% of the company's unsecured debt.
Under the plan, the remaining 10% will be repaid over eight years with a one-year grace period, while the secured debt will be converted into equity. ■