BELGRADE'S OIL COMPANY BELGRADE, Aug 25 (Hina) - Russia's oil company Lukoil won a public tender for the sale of almost 80 percent of Belgrade oil company Beopetrol's shares, offering EUR117 million in cash and another EUR85 million
in investments in the next five years.
BELGRADE, Aug 25 (Hina) - Russia's oil company Lukoil won a public
tender for the sale of almost 80 percent of Belgrade oil company
Beopetrol's shares, offering EUR117 million in cash and another
EUR85 million in investments in the next five years. #L#
The second candidate for the majority of Beopetrol's stock was
Hungary's MOL, which offered a total of EUR185 million.
Beopetrol controls 17 percent of the Serbian oil products market
and owns 187 petrol stations and a number of warehouses across the
country which it illegally confiscated from Croatian oil company
Ina's property in the Federal Republic of Yugoslavia in 1990. Ever
since December 1990, Ina has not had any access to its property in
Serbia.
The company's officials have declined to comment on Beopetrol's
sale.
After a decision of a Serbian government agency to privatise the
Beopetrol company, Ina's officials voiced bitterness with the
decision and announced they would continue to undertake all legal
steps to recapture Ina's property.
Ina's property in Serbia consists of 194 petrol stations, 28 in
Kosovo, several warehouses, facilities and other investments into
long-term property, such as transport, flats, etc.
Serbian privatisation and economy minister Aleksandar Vlahovic
said on Monday Beopetrol's new owner would have no problems with
Ina's lawsuit filed before the Belgrade Commercial Court because,
he said, Beopetrol's property offered for sale was not contentious,
nor was the company a subject of succession of ex-Yugoslav states.
(hina) lml