The future of Pančevo’s Azotara fertilizer factory appears to be one, perhaps even several, steps closer to the fate envisioned for it in the urban development plan. The site has been earmarked as a potential location for a future data center. Meanwhile, three months ago, without any announcement, press release or public notice, the fertilizer plant quietly changed hands. Its entire 100 percent stake is now owned by Mileva Data Technologies. Although the previous owner, Novi Sad-based Promist, had also openly expressed its intention to invest in a future data center, Forbes Serbia reports.
According to Forbes, the buyer, Mileva Data Technologies, was registered only recently. Its official owner is Mileva FZCO, a company based in the United Arab Emirates, with an address at the Dubai World Trade Centre, Desk 513-13.
Interestingly, despite the change in ownership, Milija Pavlović has remained director of Azotara. He also serves as director of Promist, the factory’s former owner.
Promist, whose majority owner is Nebojša Petrić, acquired Azotara in 2021 through bankruptcy proceedings.
This is not the only unusual aspect of the deal. Azotara has now been sold even though, for much of this year, a substantial portion of its assets was pledged as collateral and could not be disposed of.
Change of ownership
The Serbian Business Registers Agency (SBRA) registrar’s decision approving the ownership change is dated August 11 this year. Promist has been replaced by Mileva Data Technologies, which has acquired the entire 100 percent stake, Forbes Serbia reports.
The company was established on July 16 this year. Its primary business activity is registered under code 6311, which covers “data processing, hosting and related activities.”
The days of fertilizer production at this Pančevo factory are apparently numbered, although it was hardly operating at any significant level under its previous owner either.
Directors of the new owner
Mileva Data Technologies is registered at the same address as Azotara Pančevo. The SBRA lists Swiss citizen Thomas Charles François Fontaine and Đorđe Petrić as directors of Mileva Data Technologies.
A comparison of data from the SBRA and the Real Estate Cadastre shows that Đorđe Petrić’s father’s name is Nebojša.
He is a co-owner of the Frug winery and director of several other companies, including Naš Nameštaj, NS Interiors and NS Sport Fitness & Gym. Around 20 days ago, he also registered a sole proprietorship providing consulting services.
Supplier files lawsuit over unpaid debt
Azotara has been involved in a dispute with the US company Nitron Group LLC, registered in the state of Delaware, throughout this year, and the dispute is still ongoing. Nitron, one of the factory’s suppliers, has been contesting a debt with Promist, and continues to do so. Azotara’s assets were seized as security for the outstanding obligations. More recently, Nitron has also initiated proceedings directly against Azotara.
As a consequence of the dispute with its former owner, Promist, the latter’s entire stake in Azotara was pledged and seized to cover the debt. Records of the registrar’s decisions show that the lien was amended, removed and re-registered several times beginning in February this year.
Nevertheless, Azotara was sold. The transaction took place at a time when Nitron Group’s liens had been removed and a new lien in favor of Ossid Kapital had been registered.
As Forbes previously reported, Ossid Kapital filed a lawsuit against Azotara in March and registered its lien on July 2 this year. The owner of the company is Sanja Petrić, wife of Nebojša Petrić, who owns 80 percent of Promist.
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Source: Nova Foto: RFE
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