For Fabrika Maziva, the agency received 10 bids, rejecting one as incomplete. A consortium of domestic companies made the top bid, including a 25 million (U.S. $33 million) purchase price and a 10 million (U.S. $13.2 million) total investment program amount. Based in Krusevac, the 40-year-old Fabrika Mazivas basic business activity is the production of petroleum derivatives, chemicals and base chemical products.

For Rafinerija Nafte, the agency received six bids, rejecting two as incomplete. Greek chemical group Neochimiki made the high purchase bid, a 16.4 million (U.S. $21.7 million) purchase price and a 15 million (U.S. $19.8 million) total investment program amount. Two others bid slightly higher total investment program amounts: Bulgarian company Evropetroleum, with 15.4 million (U.S. $20.3 million); and bidder consortium MBS, with 15.4 million (U.S. $20.4 million). Belgrade-based Rafinerija Naftes core business is the production of oil derivates, motor and other oils, industrial oils and liquids, metal processing agents, anti-corrosive agents and antifreeze. Its assets include blending plants and a plant for rerefining of used oils.

The Privatization Agency handles the process, with a final decision on a buyer expected early next year. The agency said it will announce official results of the Fabrika Maziva and Rafinerija Nafte tenders after the second session of its Tender Committee this week and upon evaluation of the bids and final rankings of the bidders in the tender process.

For Fabrika Maziva, the accepted bidsincluded offers from:

1) Bidder consortium comprising Preduzece za puteve Beograde (Belgrade, Serbia) and Petrobard (Belgrade, Serbia). Purchase price: 25 million (U.S. $33 million); Total investment program: 10 million (U.S. $13.2 million)
2) Prista Oil (Sofia, Bulgaria)
Purchase price: 21.5 million (U.S $28.4 million); Total investment program: 3.2 million (U.S. $4.2 million)
3) Orka (Ljublijana, Slovenia)
Purchase price: 17.3 million (U.S. $22.8 million); Total investment program: 6 million (U.S. $7.9 million)
4) Mol Lub Plc (Budapest, Hungary)
Purchase price: 16.3 million (U.S. $21.5 million); no investment offered.
5) Bidder consortium MBS (Res Trade of Novi Sad, Serbia; and MBS Tehno of Belgrade, Republic of Serbia).
Purchase price: 15.5 million (U.S. $20.5 million); Total investment program: 9.3 million (U.S. $12.3 million)
6) Evropetroleum (Plovdiv, Bulgaria)
Purchase price: 15.2 million (U.S. $20.1 million); Total investment program: 9.3 million (U.S. $12.3 million)
7) Euro Gas (Subotica, Serbia)
Purchase price: 14.1 million (U.S. $18.6 million); total investment program: 2.9 million (U.S. $3.8 million)
8) Burgoil Co. (Bourgas, Bulgaria)
Purchase price: 12.1 million (U.S. $16 million); total investment program: 9.3 million (U.S. 12.3 million)
9) Neochimiki (Greece)
Purchase price: 10.1 million (U.S. $13.3 million); total investment program: 9 million (U.S. $11.9 million)

For Rafinerija Nafte, the accepted four bids:

1) Neochimiki (Greece)
Purchase price: 16.4 million (U.S. $21.7 million); total investment program: 15 million (U.S. $19.8 million)
2) Evropetroleum (Plovdiv, Bulgaria)
Purchase price: 13.2 million (U.S. $17.4 million); total investment program: 15.4 million (U.S. $20.3 million)
3) Prista Oil (Sofia, Bulgaria)
Purchase price: 11.5 million (U.S. $15.2 million); total investment program: 4.6 million (U.S.$6.1 million)
4) Bidder consortium MBS, comprising Res Trade (Novi Sad, Serbia) and MBS Tehno (Belgrade, Serbia)
Purchase price: 5.5 million (U.S. $7.3 million); total investment program: 15.4 million (U.S. $20.4 million)