Pre-qualification tender announced for sale of "Energoprojekt Garant" insurance company

Belgrade-based "Energoprojekt holding" announced prequalification tender yesterday (December 13, 2007) for sale of minimum 51% of capital of insurance company "Energoprojekt Garant".

Potential buyers can submit letters of interest prior to January 28, 2008. Value of property of "Energoprojekt Garant" at the end of September was 6.3m EUR, total incomes in the first nine months of 2007 amounted to 2.26m EUR, and profit reached amount of 805.800 EUR.

Total obligations of the insurance company at the end of September amounted to 1.8m EUR. This company has 10 employees.

All banks and insurance companies with at least five years of working experience in the field of insurance and with at least 60m EUR worth of gross insurance sum, that is, balance assets in amount of 240m EUR in 2006, can participate in the tender.