A consortium consisting of four companies—Karin Komerc MD, Sani Eko Vita, Rakakop and NS Square Gradnja—has acquired the state-owned company Yugoslav River Shipping (JRB). The agreed purchase price for the company is €10.9 million, which was the initial sale price set for the capital.
As part of the agreement, the new owners are obligated to invest €2 million within the next two years to ensure the company’s continued operation. The contract also mandates that the new owners maintain business continuity by retaining the current workforce and ensuring regular wage payments over the next two years.
The Ministry of Economy has published the terms of the contract, which include stipulations about land parcels with potential importance for future projects. The Directorate for Property of the Republic of Serbia had previously notified the Ministry that some plots of land associated with JRB are intended to be part of projects deemed critical for the country. Following a revised estimate, the Ministry of Economy will issue a new public invitation for the privatization process.
Yugoslav River Shipping, headquartered in Belgrade, has a long-standing history in cargo transportation by inland waterways. The company is one of the five largest shipping companies operating on the Danube and holds a leading position in international inland waterway transport within Serbia.
JRB was state-owned after 2010 when the original privatization agreement with EDDSG was terminated. As of 2017, JRB employed over 300 workers, continuing to be a key player in Serbia’s inland waterway transportation sector.
