Prishtina, 30 November 2011 – KEDS Privatization Committee, in its meeting held today, in the presence of local and international monitors, adopted the bidding package and published the Invitation to Bid for the prequalified investors (Elsewedy, Limak, Taib Bank and Calik) in the KEK Distribution and Supply Privatization (KEDS) process.

The Bidding Package contains five documents, already available to the prequalified investors. These documents include; Bidding Rules, Share Purchase Agreement, Bulk Supply Agreement, Imports Agreement, and the Implementation Agreement.

In addition to the aforementioned documents, the Privatization Committee (PC), Chaired by the Minister of Economic Development, Besim Beqaj, took a decision on the issue of KEK Distribution and Supply employees. The decision envisages that all employees in the sector shall be transferred to the future private company, with their current contracts. This means that there will be no staff cuts. Employee contracts shall be guaranteed with the applicable laws, namely the Labor Law.

Privatization Committee decided that KEDS shall be privatized without debts, and that KEK bad debt shall be forgiven, and shall be paid according to the modalities to be defined by the two companies.

On 30 November, the Privatization Committee published the Invitation to Bid. Investors will now have to prepare their bids for the purchase of KEK Electricity Distribution and Supply (KEDS). The final deadline for the prequalified companies to submit their bids shall be 28 February 2012.

It must be noted that all documents approved by the PC have underwent a series of consultations and seven technical experts working group meetings, and most comments and remarks have been incorporated, including experts from Energy Regulatory Office, KOSTT, KEK and other local and international experts involved in the KEDS privatization process.