Bosnia, Serbia: Njeftegazinkor Nestro Russia selling assets in Balkans

, SEE Energy News

Group Nestro is selling its assets property worth millions of “Nestro Petrol” and Oil Refinery “Modrica”, located in Republika Srpska (RS), Serbia and Montenegro

Russian investors in RS oil industry rapidly seek buyers for the sale of real estate, from office buildings and halls, to hotels, offices, apartments and houses owned by the privatized gas stations chain “Nestro petrol” and Oil Refinery.

The group “Nestro” belongs to Optima Group, which is engaged in manufacturing and trading of oil and oil products with its headquarters in Banja Luka. Founder of Optima Group is a Russian company “Njeftegazinkor” with a hundred percent share in the equity of the company. The majority owner of “Njeftegazinkor” is Zarubezhneft, a state company from Moscow, which operates under the “Nestro” trademark.

“Njeftegazinkor” is the majority owner of the company “Nestro Petrol” in Banjaluka, Oil Refinery Brod and Modrica Oil Refinery and owns the largest network of 82 petrol stations in Bosnia and Herzegovina.

In the last public call for proposals it has been stated that the total initial price of seven offered properties is around 3.61 MEUR, but earlier this month “Nestro” has announced the bigger offer in which it seeks the customer for as many as 19 commercial buildings, offices, resorts and apartments.

From “Nestro group” was not disclosed reason of asset sales, but it is known that the whole group has serious financial problems. Only Oil Refinery Brod ended last year with accumulated losses of more than 250.000 EUR, and decline continued in the first quarter of this year. , transmits