According to the data provided by the Serbian Privatization Agency (as of September 21, 2015), there are currently 357 companies involved in the process of privatization. On the other hand, the Privatization Act requires for the privatization process to be completed before December 31, 2015. Save for 188 companies, for which the Government already adopted an action plan for the commencement of bankruptcy proceedings (due to no productivity, no interests from potential investors and unsustainable financial performance), it remains to be seen how many companies will actually find a genuine buyer, and thus, avoid bankruptcy proceedings before the December deadline. Hence, while awaiting […]
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