The privatisation of Bosnia's largest brewer has only one bidder, according to local reports. SeeNews said yesterday (25 July) that London-based Altima Partners is the sole valid bidder for a 53.81% state-owned stake in Banjalucka Pivara.

An offer by Sarajevska Pivara was turned down, SeeNews said, because the brewer could not meet the required 75m marka (US$46.5m) in annual revenue in each of the last two years.

In a statement, the Serb Republic Privatisation Directorate said: "The offer of Altima Partners LLP London has formally fulfilled the tender conditions and is now subject to further analysis." The bid amount was not disclosed.

Speaking to SeeNews, Vanja Manojlovic of the Privatisation Directorate, said: "I expect that in the next 15 days the Directorate will come up with a final decision and the privatisation of Banjalucka Pivara will be concluded."

The Serb Republic, which together with the Muslim-Croat Federation makes up post-war Bosnia, offered its stake in the brewery for sale in April after two previous attempts to privatise it failed, SeeNews said.