Serbian Privatization Agency terminated the purchase and sale agreement with the former owner of rubber industry GIP Prvoslav Drobnjak.

The reason is in the fact that Drobnjak failed to meet his obligations from the contract even after additional 90 days.

Discontented GIP workers launched a strike on May 19, demanding the termination of the agreement.

After this move, the Serbian Equity Fund will install a provisional company’s representative, who will prepare it for a new privatization tender or a bankruptcy.