Serbia to Sell Glass Plant Stake to Bulgarian Buyers, B92 Says

Date: 18 October 2011
Source: http://www.bloomberg.com/
Serbian state-owned gas company Srbijagas will sell its 63.6 percent stake in Srpska Fabrika Stakla AD to a Bulgarian buyer within the next two weeks for 35 million euros ($48.31 million), its general manager said today, B92 reported.

The transaction will be followed by the purchase of the remaining equity held by small shareholders and the Bulgarian glassmaker Rubin, web portal B92 said, ciging Srbijagas head Dusan Bajatovic. The new owner will also invest 22 million euros in the “next three years” in upgrading the facility in Paracin, 155 kilometers (96 miles) south of Belgrade, the capital, to focus on production of glass packaging, mainly beer bottles, B92 said.

To contact the reporter on this story: Gordana Filipovic in Belgrade at gfilipovic@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

600450 Serbia to Sell Glass Plant Stake to Bulgarian Buyers, B92 Says glassonweb.com

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