The Ministry of Economy of Serbia plans to privatize seven companies from a list of 43, with public calls for the sale of social capital expected by mid-2025. These companies include Jat Apartments on Kopaonik, Toza Marković from Kikinda, Lastra, RTV Kragujevac, Progres, Bačka,and Jugoinspekt. Privatization deadlines have been repeatedly postponed, and a recent amendment to the Privatization Law sets the final deadline for completion by December 31, 2027. If privatization is not completed by this date, the state will initiate bankruptcy and take over the assets of the companies.
To start the privatization process, companies must submit an estimate of the fair market value of their assets, liabilities, and capital. The Ministry of Economy notes that the initial prices for the sale of these companies will be announced once these estimates are submitted, which is expected after December 31, 2024.
Additionally, spas such as Vrnjačka, Niška, and Koviljača Spa are also on the privatization list, but legal complications prevent their privatization under current laws. A working group has proposed selling state property in spas instead, but the Serbian government has not approved this proposal yet.
The Ministry emphasizes that privatization procedures will be completed as long as there are no legal or factual obstacles, such as unresolved property issues or a lack of investor interest. Bankruptcy proceedings are inevitable for companies that cannot settle obligations or attract buyers.
