New Company Gets 621 Parcels of PKB Korporacija and EUR 25 Million on Account – To Do Real Estate Sale

Source: N1 Friday, 05.04.2024. 09:38
Illustration (Photo: Shutterstock/ronstik)Illustration
On April 2, the state registered a new company, Agroindustrijska korporacija - nekretnine d.o.o. to which it has transferred the property worth RSD 4.9 billion of the former PKB Korporacija. This pertains to RSD 3 million in money on the company’s account and land worth RSD 1.8 billion – 621 parcels of urban building land, agricultural, forest land and the former PKB Korporacija. The activity of the new company will be the sale of real estate.

Agroindustrijska korporacija is a new name for the former PKB Korporacija, which it got in April 2021, two and a half years after 16,785 hectares was sold in the process of privatization to Al Dahra. A big part of the remaining property, as many as 621 parcels of urban building, agricultural and forest land, has now been transferred to the newly founded company: Agroindustrijska korporacija – real estate, owned by the Republic of Serbia.

Along with the land, RSD 3 billion has been transferred from the account of the former PKB Korporacija to the new company, which is around EUR 25 million.

The new company was formed by extraction from the existing one, for which the founding capital of the existing company was reduced from RSD 10,247,973,951.66 to RSD 10,247,970,789.44, that is, by precisely RSD 3,162.22.

As the N1 portal wrote previously, in the privatization process in 2018, the state sold to Al Dahra 16,785 hectares owned by PKB Beograd, in the municipalities of Palilula, Surcin and Zrenjanin, as well as buildings worth a total of EUR 98 million.

The entire agreement was worth EUR 104.7 million, because it also encompasses the sale of equipment, spare part stock, but also the stakes in certain related companies. The price for the herd, which was also sold, is not included in this amount.

The rest of the land remained owned by the original company – PKB Beograd.

Name change

PKB Beograd got the new name Agroindustrijska korporacija (AIK) in April 2021. Along with this name change, another one was registered – the predominant activity is no longer “the breeding of milk cows”, but “the growing of grains (except for rice), legumes and oil plants”.

All the branches also had their names changed and they all got the AIK prefix instead of PKB.

The decision on the reduction of the capital of AIK, which pertains precisely to the founding of the new company, was entered into the register of the Serbian Business Registers Agency (SBRA) on March 13. The draft agreement-distribution plan for the status change envisages for a total of 621 cadaster parcels to be transferred to the new company, formed through an extraction from the existing Agroindustrijska korporacija Padinska skela (that is, PKB).

The function of the director at the new company, in the capacity of the acting director, is performed by Dejan Tomasevic, the current director general of the sister-company Agroindustrijska korporacija (PKB).

What has been transferred to the new company?

The draft agreement-distribution plan for the status change from December 2023 also envisages which property of the former PKB is transferred to the new company. It says that the total value of the property which is transferred from the former PKB to the new company is RSD 4.9 billion. Of that amount, the value of the land is RSD 1.88 billion.

The facilities are worth RSD 4.8 million, and the money on the account amounts to as much as RSD 3 billion, which is around EUR 25 million.

The plan features a detailed list of the real estate which is transferred to the new company. This is mostly land.

The land of the former PKB which has been transferred to the new company is located in the cadaster municipalities Padinska skela, Surcin, Boljevci, Centa, Ovca, Krnjaca, Kovilovo, Besni fok, Komareva humka.

The list features building land, urban building land, forests, agricultural land, land categorized as “other land”, as well as “barrier forest along the embankment”. There are also parcels featuring marshland, canals, orchards, grazing land… a total of 621 cadaster parcels. The list also features buildings.

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