A tender for Galenika can be expected to be issued in a few days, Serbian Minister of Economy Zeljko Sertic said Thursday, adding that the objective is to find a strategic partner for the pharmaceuticals company.
“At the latest government session we adopted a decision on the model for the Galenika privatisation process, and we can expect a technical finalisation and a tender in the next few days,” Sertic told Tanjug.
The objective is for Galenika to get a strategic partner that would inject fresh capital and new technologies into the company to enable it to continue to operate and fulfil all its potentials, he said.
The company’s accumulated past debts must also be dealt with at the same time, Sertic said.
Around USD 50 million of the approximately USD 220 million debt is tied to banks that are tough negotiators, while the rest is Galenika’s liabilities towards state creditors, Sertic added.
Source: Tanjug
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