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Romanian company Cuprom signed yesterday the contract to take over Serbian copper producer RTB Bor for 400 million USD, after having offered 80 million USD more than the other significant bidder, according to the Serbian government.
The transaction was finalized after more than two months of negotiations. Representatives of Cuprom and of the Serbian privatization agency signed the sales contract for the RTB Bor mining complex. The document was signed by Mining and Energy Minister Radomir Naumov and Vladimir Galic, Director of the privatization agency. The Serbian government had initialy set a minimum price 266,65 million USD for the RTB Bor bid. The privatization of RTB Bor involves the sale and transfer of exploitation rights of RTB Bor, which comprises the copper mines in Bor and Majdanpek, as well as a foundry and a refinery.
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