Public Invitation for participation in public auction process that will take place on 06.03.2009., in Belgrade

In accordance with Article 38 of the Law on Privatization ("Official Gazette of RS", no-s. 38/01, 18/03 and 45/05), and Article 5 of the Decree оn Sale of capital and property by public auction ("Official Gazette of RS" no. 52/05),
the Privatization Agency announces:

1. Socially-owned enterprise (hotel) VOJVODINA, NOVI SAD

The right to participate in public auction has:
А) Domestic or foreign legal entity which cumulatively fulfills the following requirements:
That it is registered for performing activities from the group of activities 55- motels and restaurants,
That it achieved business income during the last business year of at least EUR 2 million,
That it owns a hotel, which is categorized as a four-star hotel,

A legal entity shall be deemed to have fulfilled the conditions required for participation in public auction, if it is the owner of more than 50% of capital of a legal entity which cumulatively fulfills the conditions required for participation in public auction.
B) Domestic or foreign legal entity which is the owner of more than 50% of capital of a legal entity which cumulatively fulfills conditions required for legal entities for participation in public auction.
C) Consortium – A consortium shall be deemed to fulfill conditions from this public invitation, if a member or members of a consortium which cumulatively fulfill the required conditions, participate in the consortium with at least 51% of total stake in the consortium.

DEADLINE FOR SUBMISSION OF APPLICATIONS IS 26.02.2009, by 16:30.
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