Greece“s Yioula Glassworks was the only company to bid in a tender for 100% of Serbia“s largest glass manufacturer Industrija Stakla Pancevo (ISP), the country“s privatisation agency said on 26 Feb…
Greece“s Yioula Glassworks was the only company to bid in a tender for 100% of Serbia“s largest glass manufacturer Industrija Stakla Pancevo (ISP), the country“s privatisation agency said on 26 February 2008. “The tender commission has concluded that the sole bidder fulfils the requirements of the public tender and has opened [its] offer [] The Privatisation Agency will [ ]evaluate the offer of Yioula Glassworks no later than 30 days“ after its opening”, the agency said in a statement. Two other potential investors, Slovenian Trimo and Bulgarian Brikel, paid for tender documents for ISP but did not place bids by the 11 January 2008 deadline. It is the second time Yioula Glassworks has been the sole bidder for ISP. A previous tender for the sale of the Serbian glass manufacturer in February 2006 failed after Yioula“s offer was declared invalid because it did not actually constitute a bid for the whole 100% stake offered. ISP, set up in 1930, has two subsidiaries: Specijalna Stakla, which makes glass, and Trispan, which sells it. The company is one of the oldest glass makers in southeast Europe.