The bid was extended to 16 December 2019 due to the complexity of the process.

The Ministry of Finance of the Republic of Serbia published an announcement on their website stating that the deadline for submitting the binding bids for Komercijalna Banka have been extended to 16 December 2019.

The mentioned deadline has been extended at the request of participants in the tender procedure due to the complexity of the process, while at the same time taking into account the intention to get the best possible offer.

As a reminder, the initial deadline for submitting the bid was 2 December 2019. Also, earlier this week, Serbian state acquired additional 34% stake in the Bank from EBRD and IFC. Following this transaction the Republic of Serbia will own 83.2% of the bank, which will enable the privatization of the Bank under the ongoing privatization process. To read more about it, click here.