Repeated call for sale of Hotel 'Igman', price 6.9 million KM

SARAJEVO, (Patria) - The Sarajevo Canton Privatisation Agency has published a new public call for the sale of Hotel „Igman“ with its annex and adjoining land, based on the Decision of the Sarajevo Canton Government which, after the failed sale via tender, approves the sale through direct negotiation in the small privatisation procedure.

„The public call for the sale of Hotel „Igman“ via tender was published by the Cantonal Privatisation Agency on 15 September 2021, and given that within the prescribed deadline for submitting bids, the Agency did not receive a single bid, on 19 October this year the Commission declared the tender unsuccessful“, said the Minister of Economy of Sarajevo Canton, Adnan Delić.

He added that the Supervisory Board of the Public Company „ZOI '84“ Olympic Centre Sarajevo d.o.o. adopted the Decision on sale via direct negotiation after the Commission declared the tender unsuccessful, in accordance with the Rulebook on the procedure for the sale of assets and shares or stakes of companies and the Rulebook on the procedure for sale by the method of direct negotiation.

„Under these rulebooks, sale via direct negotiation is conducted after a failed sale via tender or auction, and accordingly, after the failed sale via tender, the Supervisory Board adopted the aforementioned Decision, which also established the criteria for evaluating the bid“, the minister stated.

He also stated that the starting price, according to the Decision of the Supervisory Board of the Public Company „ZOI 84“ in the amount of 6,926,000.00 KM, represents 75 percent of the previously defined starting price (9,234,920.00 KM) which was determined based on the Valuation Report of Hotel „IGMAN“, the annex and the land adjacent to the hotel.

„Interested bidders are required to submit along with their bid a Business Plan which includes retaining hotel-catering, sports-recreational activities or activities in the domain of health services, and to confirm this with a written statement“, the minister explained.

The payment criterion, according to the Ministry of Economy, implies exclusively payment in cash within a period of three years from the date of concluding the contract, in accordance with the bidder's Business Plan which will be an integral part of the Contract.
The Ministry reminds that Hotel “Igman” was sold in 2008 to the bidder „Full media“ d.o.o. Sarajevo, whose bid was the only one received under the public call.

“Upon completion of the entire procedure, the final bid of "Full media" contained 3.5 million KM as the starting price, and 14.5 million for new financial investments, i.e., reconstruction, modernisation and equipping of the facility within two years from the date of concluding the purchase agreement. However, the bidder requested an extension of the deadline for signing the contract on several occasions, and given that the signing never took place, the Commission declared the sale unsuccessful on 21 December 2009”, the Ministry stated.

The link to the Public call for the sale of Hotel „Igman“ is available at the link:

https://mp.ks.gov.ba/aktuelno/obavjestenja/javni-poziv-za-prodaju-hotela-igman-metodom-neposredne-pogodbe