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Third privatization round in Kosovo – successful

Prishtina, 22 September 2004 – The third round of privatization has been successfully completed so far. The Kosovo Trust Agency, who is tasked to privatize Socially Owned Enterprises in Kosovo, has declared the provisional winners for the privatization of 19 companies. These companies are sold for a total amount of EUR 16,206,788. The largest bid amounts to 4.1 million euro for a department store in Peja, followed by Fazita (2,781,750 €) and NewCo Buzigallek (2.706,250). The ex- Coca-Cola bottling plant in Lipjan was sold for a total amount of € 2,081,250. (For details please see the list below)

The important Kosovar mining company, “Ferronikeli” will be privatized through special Spin-Off and according to the KTA the last day for final biding will be the November 17th, 2004.

The Kosovo Government and the Association of Kosovo Independent Trade Unions are relatively satisfied with the prices of the enterprises sold in the third round of privatization.

According to the Kosovar media, the Kosovo prime minister has said that “the privatization process under the leadership of the Kosovo Trust Agency will offer to Kosovo an honest and internationally recognized framework that will ensure the privatization transactions.”

Ali Dragusha, the deputy head of the trade union association said the union is relatively satisfied with the prices of the enterprises sold. However, according to Kosova Sot, local experts say that the land was sold cheaply in the third round.

“There is a general perception that this privatization round is a big step for the restarted process of privatization, another positive assessment is that the majority of the enterprises were sold for reasonable prices, some of them are even expensive, but the land has been sold cheaply,” said Mr Ismail Kastrati, the head of the Kosovo Chamber of Commerce.

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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo

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