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Sugar mill for one euro

09. November 2007. | 13:39 18:22

Filip Zepter has bought the Zrenjanin sugar mill for a price of one euro.
The explanation for this move was that the plant was not working for full three years, with workers left without wages for two years, and that even giving the factory away free was a better solution than the status quo, especially if the buyers starts production. The tender commission told daily Blic that Zepter, beside the one euro he paid, also undertook it to carry out an investment program worth EUR 5.7mn, and not lay off any of the 230 workers within the next 12 months. When it comes to the mill's debt, the state wrote off all of them in the restructuring process that preceded the tender. The record in symbolic prices in tenders in Serbia has so far been three euros, also in a sugar mill acquisition. Miodrag Kostić bought three mills for three euros each. But, facts say, that three euros is still 200 percent more than one euro.


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05. September - 11. September 2011.