Majevica Holding in Bankruptcy: 55 Buildings, 233.6 Million Dinars
The starting price is 233.6 million dinars, about 2 million euros. The auction is set for September 10, and what is being sold is the holding company and three subsidiaries in bankruptcy, as legal entities.
The starting price for a package of four companies in bankruptcy from the Majevica Holding group in Backa Palanka is 233.6 million dinars (about 2 million euros). The public auction is scheduled for September 10.
The package includes:
- Majevica Holding, registered for holding company activity
- Majevica Pumpe i cisterne, pump units, tanks and cisterns
- Majevica Livnica, casting of non-ferrous metals
- Majevica Masine alatke, machine tools for metal and wood
All four companies are headquartered in Backa Palanka, all are in bankruptcy, and all of them are going up for sale together, as a single package. Bankruptcy proceedings were opened over the holding company in June 2018 and over the foundry in May 2019, so these assets have been part of a bankruptcy estate for years.
What the buyer gets for 233.6 million dinars
The core of the offer is the factory grounds. Up for sale are 53 buildings on one cadastral plot and two more buildings on a separate plot, 55 buildings in total. Along with the real estate, the sale includes movable property, and it also covers an individual trademark with priority rights dating from March 24 last year.
Two things set this sale apart from earlier attempts. The first is the method: this is the first time the auction is being run publicly. The second is what is actually being sold. The buyer is acquiring legal entities, not individual items pulled from a bankruptcy estate, which means taking over the companies along with their status, not just a list of equipment and buildings.
Why did the previous sale attempt fail?
Majevica Holding was already on the market a decade ago. In late May 2016, the Ministry of Economy issued a public call for the sale of the holding’s assets, with a starting price of 1,239,683.16 euros. That figure was exactly half of the assessed value of 2,479,366.21 euros, meaning the discount was already built into the call itself. The application deadline expired on July 22 that year, and by early August the sale was declared unsuccessful because no buyers came forward.
Ownership at the time was scattered across state funds and small shareholders. The Share Fund of Serbia held 25.36% of the capital, the Republic of Serbia 21.15%, the Pension and Disability Insurance Fund (PIO Fund) 6.57%, and the Development Fund 3.54%, while 43.38% was in the hands of other shareholders. The holding employed around 300 workers at the time. Today the holding company and the foundry have no employees at all.
The two prices are not directly comparable. In 2016, the holding’s assets were being sold; now, four companies are being sold as legal entities, together with the trademark and movable property. What is comparable is something else: a buyer for the same site in Backa Palanka has been sought for a full decade now, first through the ministry’s public call, now through bankruptcy proceedings and a public auction.
The makeup of the group has also changed. The 2016 offer also listed Majevica Masine alatke, Majevica Poljooprema, Majevica Livnica and Majevica Pumpe i cisterne. Majevica Poljooprema is not among the four companies going to the September auction and is not part of this sale.
That is why the September auction is not just a bankruptcy formality. The factory grounds, 55 buildings on a single site in Backa Palanka, are first and foremost industrial land with production halls, and the starting price of 233.6 million dinars is the figure at which that site is now being offered to the market through bankruptcy proceedings.
The outcome will be known on September 10.
This article was updated on August 12, 2026: the registered activity of each company in the package was added, and it was clarified that Majevica Poljooprema is not part of this sale.
