Serbia Extends Bidding Deadline for Zelezara Mill by Two Months
Serbia extended the deadline for bids for Zelezara Smederevo, its sole steel mill, to Dec. 26, the country’s asset sale authority said.
The two-month extension is meant to give potential buyers more time to make an offer, Dusan Belanovic, spokesman for Serbia’s Privatization Agency, said in a telephone interview. Russia’s NPO Uralvagonzavod OAO is the only company to indicate interest in the mill.
Serbia put the unprofitable plant up for sale in January, when the government bought it back from U.S. Steel Corp. for $1. Potential bidders have to buy documents from the government before submitting a bid.
NPO Uralvagonzavod, the state-owned maker of battle tanks and railcars, was the only purchaser of the documents, the agency said on Oct. 19. The new deadline for buying the sales papers is Nov. 2, Belanovic said.
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