Investment fund from Switzerland makes best bid for Jugoremedija – Final decision on the sale in the upcoming days

The best bid for the purchase of Jugoremedija in bankruptcy was made by an investment fund from Switzerland, and the Board of Creditors will decide whether the Zrenjanin-based pharmaceutical company is to be sold in the upcoming days, the chairman of the board, Vladimir Pecikoza, said in a statement for Tanjug.

He says that, as the procedure is not yet over, he can't say which bid is the best and how much it is worth.

– Neither of the three bidders comes from the pharma sector, and the best bid comes from an investment fund which has an office in Belgrade, and I assume that it is a foreign investment fund – Pecikoza said.

The bankruptcy supervisor of Jugoremedija, Vladimir Savic, has confirmed that the best bid was made by the investment fund from Switzerland.

– If the Board of Creditors approves, Jugoremedija will be sold, if they don't, it will not – Savic says.

The Board of Creditors will reach a decision in the upcoming days, as the biggest creditors from Turkey have asked to be given several days to consult among themselves, Pecikoza says.

In the Board of Creditors, Pecikoza represents the workers and the private companies from Zrenjanin which cooperated with Jugoremedija. He says that, in addition to the representatives of the Turkish company, the board also consists of one representative each from the companies from Vrsac, Novi Sad and Belgrade.

– I expect the board to make a positive decision and Jugoremedija to finally find a purchaser and start working again – Pecikoza says.

He adds that it is in the interest of Jugoremedija to be revived, so that people would go back to their jobs, because the problem is that the bankruptcy proceedings are taking too long, since 2012.

– Although it is in a good condition, there are parts of the factory where water has leaked through, and the problem is that the bankruptcy supervisor is out of funds for the repair and for electricity and gas bills – Pecikoza says and adds that the money from the account from the lease has been spent.

The bid needs to be approved by at least three of the five members of the Board of Creditors.

Jugoremedija a.d. Zrenjanin

Jugoremedija

Vladimir Pecikoza

Vladimir Savić

sale of Jugoremedija

sale of pharmaceutical factory Jugoremedija

new owner of Jugoremedija