Public Invitation for participation in public auction process that will take place on 11.06.2009., 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. Preduzeće za ugostiteljstvo, turizam, trgovinu i spoljnu trgovinu (Joint-stock company for tourism, trade and foreign trade) LIPA А.D., NOVI PAZAR
   

The right to participate in public auction have:
А) Domestic or foreign legal entity which cumulatively fulfills the following conditions:
It is registered for performing activities from the group 55- hotels and restaurants;
it achieved operating income in the last business year of at least EUR 2 million;
it possesses a hotel, which is categorized as a three-star hotel.

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