Independent auditors to enter "Feroelektro"

The former BH giant, the company Feroelektro d.d. Sarajevo, has returned to state ownership, after the Cantonal Court in Sarajevo made a final decision to terminate the privatization agreement with the company Stanić Invest due to non-fulfillment of conditions, reports the Patria News Agency.

Thus, the new owner of 60.6 percent of Feroelektro is the Federation of Bosnia and Herzegovina. On this occasion, the FBiH Government adopted the information from the Federal Ministry of Trade about the company "Feroelektro" and tasked this ministry and the company itself to engage an independent auditing firm to prepare an audit report on the business operations of this company for the period from the conclusion of the state capital sale agreement until December 31, 2014.

The Privatization Agency of the Federation of Bosnia and Herzegovina is tasked with submitting a request to the Securities Registry in the Federation of Bosnia and Herzegovina, which will transfer the ownership of 886,952 shares of "Feroelektro" from "Stanić-Invest" d.o.o. Kreševo to the Federation of Bosnia and Herzegovina and submit a proposal to the registry of the Municipal Court in Sarajevo to register the ownership of 60.66397 percent of the total share capital of "Feroelektro" in favor of the Federation of Bosnia and Herzegovina in the main registry file.

The Privatization Agency of the Federation of Bosnia and Herzegovina will also engage an independent auditing firm to prepare an audit report on the state of capital in "Feroelektro" for the period from the conclusion of the sale agreement until December 31, 2014.