THE CABINET turned down proposals to sell shares of public transport company
Slovenská autobusová doprava (SAD) in the towns of Trenčín and Lučenec, as the bids presented at this week's cabinet meeting contained outdated information, news wire SITA reported.
The privatisation tender should be announced again, as new potential buyers have expressed interest in shares of the companies. However, the original bids first had to be rejected.
Privatisation of the two SAD companies was initially to have been decided in August last year. However, the previous cabinet delayed its final decision due to doubts about the winners of both tenders.
Originally, the VIA-UNI company, part of the Denisart group, wanted to buy a 49 percent share of SAD Trenčín for Sk93 million (€2.25 million).
Upon fulfilling the contract terms it would have been given a chance to acquire another 17 percent stake in the privatised company for Sk48 million (€1.16 million).
Žiar nad Hronom-based Powell s.r.o., a subsidiary of Slovagrotrans operating in freight transport, would have paid Sk58.67 million (€1.42 million) for a minority stake in SAD Lučenec. After meeting contract terms, it would have had the option to obtain another 17 percent in the company for Sk20.35 million (€491,000).
Compiled by Martina Pisárová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
30. Oct 2003 at 14:39