The Serbian government has said that it is considering the cancellation of a tender for the privatisation of the Crvenka sugar refinery plant after it emerged that the only bidder, Greece’s Hellenic Sugar, had not provided sufficient details.

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The government’s Privatisation Agency had previously agreed to Hellenic’s €11.9m (US$11.6m) bid, but workers at the plant in Crvenka said that Hellenic had not specified the size of staff redundancy packages.


The agency said that if the privatisation agreement was not signed, the tender would be annulled. The privatisation agreement states that no workers will lose their jobs over the next five years.


The Crvenka plant is one of five that the government put on sale in June. Three of the five will be sold to local company MK Commerce, reported Reuters.

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