Post by radovic on Nov 27, 2007 10:39:50 GMT -5
Competing for RTB ‘Bor’ going on through informal flows as well
Behind-the-curtain lobby-fight between Kovac and Deripaska
Author: Radovan Ž. Markoviæ Saša Trifunoviæ | 27.11.2007 - 00:21
After announcements of bids for RTB ‘Bor’, the conflict between the competitors, Austrian bidder ‘A-tek’ and Russian bidder ‘Strikeforce’ has continued in domestic media. In the meantime ‘A-tek’ shares have gone up. It shall be known beginning next year at the latest, who shall be negotiated with over RTB ‘Bor’.
Although it is unclear if official talks over RTB ‘Bor’ takeover will be entered with the Austrian ‘A-tek’ of Mirko Kovac, there is no doubt that his competitor ‘Strikeforce’ is not giving up purchase of our mine.
After representatives of ‘Strikeforce’ expressed doubt at a press conference in Moscow that the scenario with Romanian ‘Kuprom’ (failed to close financial construction and purchase RTB ‘Bor’) would repeat with the Austrian ‘A-tek’, some media in Serbia joined the campaign reporting about dirty details from Mirko Kovac’s business career but saying nothing about the controversial career of the Russian oligarch Oleg Deripaska. Such lobbying is not surprising since of all foreigners, the Russians are the most influential ones in Serbian industry of energy (‘Lukoil’, ‘Gasprom’, ‘Jugorosgas’). It should be mentioned that in the middle of the year Serbia Prime Minister Vojislav Kostunica talked with Oleg Deripaska. The topic was the sale of RTB ‘Bor’. It was speculated then that the sale could be carried out without a tender, so announcement of it caused controversies within political establishment.
How important RTB ‘Bor’ is can be seen in the jump of ‘A-tek’ shares (from 85 to about 94 Euros) immediately after announcement of the result of the tender. Kovac is a shareholder of ‘Monteveke’ mine in Austria and is in metallurgy business dealing. He is also one of the important shareholders of ‘Kumeria’ of Belgium. ‘Kumeria’ is owner of the copper melting plant and refinery in the Bulgarian town of Pirdop. The problem there is that there is no copper electrolysis plant so about 1,000 tons of anode copper have to be shipped by train to Belgium ‘Olen’ every other day.
As regards Deripaska, his business empire is larger than Kovac’s. Apart from aluminum, he is dealing with air industry, car industry and insurance. He is owner of 30 per cent of shares in Austrian ‘Strabag’ and owner of Podgorica Aluminum Plant. Purchase of RTB ‘Bor could be interesting for him in view of Serbia’s strategic position that is close to European countries in which he has companies of his own, but also because of lower electricity price in our country. However, the huge interest in the mine can be explained by the fact that this is the only offer for sale of this kind of mine in the region.
RTB ‘Bor’ getting owner in February
According to the rules of tender, RTB ‘Bor’ shall be sold to a bidder offering the best price for the very purchase. If so, the Austrians have purchased the mine. Kovac expressed satisfaction over the purchase before journalists. However, the procedure envisages making of a rank-list. The first ranked bidder is to be invited for negotiations over signing of the purchase-sale agreement and saying when the offered price will be paid. Latest in February next year the buyer is to pay the money.
Charges against Kovac without significance
President of the Tender commission for RTB ‘Bor’ Luka Andric said that the court proceedings being led against ‘A-tek’ owner Mirko Kovac for ‘deliberate bankruptcy’ cannot influence privatization of our mine.
’It is important for us that Kovac has met the qualification criteria and that his company is a serious player what he has proved by the documentation he submitted’, Andric said.
Behind-the-curtain lobby-fight between Kovac and Deripaska
Author: Radovan Ž. Markoviæ Saša Trifunoviæ | 27.11.2007 - 00:21
After announcements of bids for RTB ‘Bor’, the conflict between the competitors, Austrian bidder ‘A-tek’ and Russian bidder ‘Strikeforce’ has continued in domestic media. In the meantime ‘A-tek’ shares have gone up. It shall be known beginning next year at the latest, who shall be negotiated with over RTB ‘Bor’.
Although it is unclear if official talks over RTB ‘Bor’ takeover will be entered with the Austrian ‘A-tek’ of Mirko Kovac, there is no doubt that his competitor ‘Strikeforce’ is not giving up purchase of our mine.
After representatives of ‘Strikeforce’ expressed doubt at a press conference in Moscow that the scenario with Romanian ‘Kuprom’ (failed to close financial construction and purchase RTB ‘Bor’) would repeat with the Austrian ‘A-tek’, some media in Serbia joined the campaign reporting about dirty details from Mirko Kovac’s business career but saying nothing about the controversial career of the Russian oligarch Oleg Deripaska. Such lobbying is not surprising since of all foreigners, the Russians are the most influential ones in Serbian industry of energy (‘Lukoil’, ‘Gasprom’, ‘Jugorosgas’). It should be mentioned that in the middle of the year Serbia Prime Minister Vojislav Kostunica talked with Oleg Deripaska. The topic was the sale of RTB ‘Bor’. It was speculated then that the sale could be carried out without a tender, so announcement of it caused controversies within political establishment.
How important RTB ‘Bor’ is can be seen in the jump of ‘A-tek’ shares (from 85 to about 94 Euros) immediately after announcement of the result of the tender. Kovac is a shareholder of ‘Monteveke’ mine in Austria and is in metallurgy business dealing. He is also one of the important shareholders of ‘Kumeria’ of Belgium. ‘Kumeria’ is owner of the copper melting plant and refinery in the Bulgarian town of Pirdop. The problem there is that there is no copper electrolysis plant so about 1,000 tons of anode copper have to be shipped by train to Belgium ‘Olen’ every other day.
As regards Deripaska, his business empire is larger than Kovac’s. Apart from aluminum, he is dealing with air industry, car industry and insurance. He is owner of 30 per cent of shares in Austrian ‘Strabag’ and owner of Podgorica Aluminum Plant. Purchase of RTB ‘Bor could be interesting for him in view of Serbia’s strategic position that is close to European countries in which he has companies of his own, but also because of lower electricity price in our country. However, the huge interest in the mine can be explained by the fact that this is the only offer for sale of this kind of mine in the region.
RTB ‘Bor’ getting owner in February
According to the rules of tender, RTB ‘Bor’ shall be sold to a bidder offering the best price for the very purchase. If so, the Austrians have purchased the mine. Kovac expressed satisfaction over the purchase before journalists. However, the procedure envisages making of a rank-list. The first ranked bidder is to be invited for negotiations over signing of the purchase-sale agreement and saying when the offered price will be paid. Latest in February next year the buyer is to pay the money.
Charges against Kovac without significance
President of the Tender commission for RTB ‘Bor’ Luka Andric said that the court proceedings being led against ‘A-tek’ owner Mirko Kovac for ‘deliberate bankruptcy’ cannot influence privatization of our mine.
’It is important for us that Kovac has met the qualification criteria and that his company is a serious player what he has proved by the documentation he submitted’, Andric said.