The Ministry of Trade of FBIH finally managed to bring the new acting director Senad Smajić into the possession of the stamp and keys of the company Feroelektro, confirmed the federal Minister of Trade Zlatan Vujanović.
Eighteen months after the verdict by the Cantonal Court on the termination of the purchase agreement and the series of obstructions which Stanić Invest, as the former buyer, imposed in all possible ways so that the Government of FBiH, as the majority owner of Feroelektro, would not come into possession of their real estate, in early February there was finally a dismissal of the Supervisory Board with Goran Stanić on as the Head, and the Government of FbIH appointed the new Supervisory Board.
Namely, the Cantonal Court in Sarajevo reached the final verdict on the termination of the contract on privatization with the company Stanić Invest due to the failure to fulfill conditions. As of two years ago, owner of 60.6 percent of Feroelektro is the BiH entity FBiH.
Feroelektro was the fourth strongest trade company in the former Yugoslavia. Stanić Invest bought the company in 2004 for one million EUR and with the purchase agreement they were obliged to invest nearly 12 million EUR in the company and employ 200 more workers in three years.
However, the opposite happened, the number of employees decreased from 167 to 57 and the assets of Feroelektro, estimated to over 300 million EUR, contrary to the law, was used as security for a loan.
(Source: klix.ba/photo: udrimuski.ba)
