IMR sold for RSD 1.1 billion – Consortium from Belgrade buys former giant from Rakovica

Industrija Motora Rakovica AD in bankruptcy has been sold to the consortium consisting of Institut za izgradnju grada and Hempro from Belgrade for RSD 1.1 billion.

On the date of September 30, 2019, the sale of the bankruptcy debtor AD Industrija Motora Rakovica in bankruptcy, Belgrade, as a legal entity, through the method of public collection of bids, was organized by the Bankruptcy Center at the Bankruptcy Supervision Agency.

As the offered price was below 50% of the estimated value, it had to be considered by the Board of Creditors, which reached the decision on accepting the offer on October 21.

The value of IMR had been estimated RSD 2,931,478,556.72, and the offer amounted to RSD 1,100,100,000.

The most important part of IMR is the business complex in the Belgrade municipality of Rakovica, which features 47 facilities within the factory complex, including seven connected halls with 15 facilities and seven warehouses on a total of 75,000 m2.

The property of IMR also includes a hotel and the management building in Rakovica, but also a separate production complex in the Zlatibor of Sljivovica, as well as a complex in Ljubis.

The Bankruptcy Supervision Agency advertised a new sale of IMR on August 30, with two bids sent, as announced.

Let us remind that the previous attempt at selling this company had been pronounced unsuccessful. In late May, Lilly Drogerie offered RSD 354 million for the former giant, which amounted to below 50%.

Zavod za izgradnju grada Beograda

Hempro a.d. Beograd

Agencija za licenciranje stečajnih upravnika Beograd

Industrija motora Rakovica a.d. Beograd

Institut za izgradnju grada

Hempro Belgrade

Bankruptcy Supervision Agency

Industrija motora Rakovica

IMR

IMR Institute

sale

legal entity

total property

halls

warehouses

hotel

management building

infrastructural facilities

IMR equipment