Privatization Agency, founded in 2001, is the institution responsible for implementation of the privatization process in Serbia, in accordance with the Law on Privatization. The Agency’s activities facilitate a complex process of change of ownership over the capital and/or assets from public ownership into private. The Agency is committed to its fundamental objectives: to enable viable companies to remain active in the market and further develop their business through transformation of ownership, and to help unsustainable companies to solve their financial problems through reorganization, or through bankruptcy.
The process of privatization is structured through key tasks performed by the Agency, such as: promotion, organization, implementation, control and representation of capital.
Within the privatization promotion activities, the Agency shall:
- inform the public on the companies within its competence,
- advertise sales in the media,
- make contacts with potential buyers, etc.
Within the organization and implementation of privatization process the Agency shall:
- propose the manner of privatizing the companies (model and method of privatization as well as measures for preparing and disburdening the companies subject to privatization)
- prepare the sales documents in coordination with privatization entities,
- organize and conduct the sales procedure, etc.
Within its mandate of controlling legality of the privatization process, the Agency shall oversee:
- fulfillment of the buyers’ commitments undertaken by the sales agreement, etc.
Within the tasks of representing capital, the Agency shall:
- appoint qualified persons to act as representatives of capital (in the companies with terminated agreements),
- monitor and control the work of representatives of capital, as well as to dismiss them, if necessary,
- take care of the company’s capital and/or assets until further sale.
Privatization Agency also carries out activities in the name and for the account of the Shareholders Fund as well as of the bankruptcy and liquidation administrator and applies other respective laws in its work (Law on Shareholders Fund, the Bankruptcy Law, the Law on Distribution of Free Shares, etc.).
In conducting its operations, the Agency cooperates with numerous institutions - the Ministry of Economy and other relevant ministries, the Government of Serbia, RS Anti-Corruption Agency, the Serbian Investment and Export Promotion Agency, commercial courts, etc. Also, the Agency has cooperation with foreign institutions in Serbia, such as the World Bank, the International Monetary Fund, Foreign Investors Council, etc.
The strengths of Privatization Agency as an investment conduit are as follows:
- years of experience
- strong legal framework
- different sales models (adjusted to market demands, so called tailor-made)
- numerous investment opportunities - privatization of entire social and/or state owned capital, purchase of assets, shares or interests, etc;
- expertise, efficiency and cooperativeness