The Ministry of Economy has advertised the privatization of the Jaroslav Cerni Institute for the Development of Water Resources. The subject of the sale is a set of 924,900 shares owned by the Republic of Serbia, which is slightly more than 92% of the total capital of the institute.

According to the ministry’s website, the estimated value of the capital of the Jaroslav Cerni Institute is EUR 2.8 million, and the initial price of the part that is up for sale is around EUR 2.58 million.

The remaining part of the capital, 80,400 shares, as said, is owned by natural persons.

The sale of the state’s share is to be done through public bidding through a procedure of the collection of bids, and eligible bidders are local and foreign legal entities that realized an operating income of at least EUR 30 million and recorded a profit in each of the past three business years (2018, 2019 and 2020). Consortiums of legal and natural persons, where a legal entity is the carrier of the consortium, are also eligible.

Bids may be sent by November 5, at noon.