FAQ

•  What is the history of PAK?

The Privatization Agency of Kosovo is an independent public body that carries out its functions and responsibilities with full autonomy, by the Assembly of Kosovo Law No. 05/L-080.

The PAK shall possess full juridical personality and in particular the capacity to enter into contracts, acquire, hold and dispose of property and have all implied powers to discharge fully the tasks and powers conferred upon it by the present law; and to sue and be sued in its own name. The PAK is established as the successor of the Kosovo Trust Agency regulated by UNMIK Regulation 2002/12 “on the establishment of the Kosovo Trust Agency”, as amended, and all assets and liabilities of the latter shall be assets and liabilities of the PAK.

The Special Chamber has exclusive jurisdiction for all suits against the Agency.

1. The Agency shall have a Board of Directors, a Managing Director and two Deputy Managing Directors, a Director of the Executive Secretariat and professional and clerical staff.

2. All powers of the Agency shall be vested in the Board. The Board may delegate the exercise of its powers to the Managing Director, save those powers reserved to the Board by Article 15.

3. The Managing Director shall be the chief executive officer of the Agency. The Managing Director and the two Deputy Managing Directors shall be appointed and removed by the Board. They shall exercise those powers of the Agency vested in them by the Board or the present Law.

4. The Managing Director shall, under the general control of the Board, conduct the ordinary business of the Agency. The Managing Director shall be responsible for the organisation, appointment and dismissal of the staff, except the appointment and dismissal of the two Deputy Managing Directors and such other staff as the Board may determine. The Managing Director shall exercise such other powers as may be delegated to him by the Board.


•  What is PAK selling?

In general, PAK creates NewCo's from SOE's and then offer for sale assets and current liabilities (defined generally as the last three months of unpaid accounts payable and the last year of unpaid VAT) of SOEs.
Investors only bid on the assets - and only a few of the current liabilities – of the SOE. Not the SOE itself. In this document, “NEWCO” refers to the assets and current liabilities of the SOE being sold by PAK.

PAK sometimes breaks SOEs into several smaller NEW COs. Please make sure you verify that you make a bid for the NEWCO that has the assets you are interested in. The Information Memorandum (see below) contains a detailed description of all assets belonging to each NEWCO.
KAP also makes sales of SOE assets in liquidation, referred as Assets Sale through liquidation. In this case NewCo is not offered for the sale (assets together with limited liabilities) but only a certain asset of the SOE.
KAP launches waves of privatizations on a regular basis and publishes announcements on the official web site of the Agency, local daily newspapers, national television, sends e-mail notifying the parties of interest and to all registered potential investors in its database. Also, in a certain cases the publications are made in the international press.


•  How do I bid for a NEWCO?

1) Interested Investors should contact PAK and obtain the Rules of Tender for the specific NEWCO. These Rules of Tender will govern the tender process.
2) Review Information Memoranda, review confidential data in the PAK Headquarters or PAK Regional Offices, conduct visits to the SOE NEWCO with PAK staff, and perform other Due Diligence.
3) Submit Bid on Bid Submission Date
    i) Attend opening of Bid (Not required)


•  How do I begin my research on a NEWCO or a NEWCO Asset in Liquidation I would like to buy?

Go to the PAK website, www.pak-ks.org, and read the relevant sections. There are Fact Sheets available for each NEWCO.

You should also download the model “Rules of Tender” and read them carefully. But note that each NEWCO will have individual “Rules of Tender”, which will need to be obtained from the PAK and which will govern the tender process for the relevant “NEWCO”.

Contact the PAK and make an appointment to meet with a PAK Sales Department/Marketing and Investor Relation Unit representative at either the main office in Prishtina.

The main number for the PAK Sales Department - Marketing and Investor Relation Unit office is +381 (0) 500-400 loc.1255.

The PAK regional offices are: RO Pristina, RO Peja, RO Gjilan, RO Mitrovica and RO Prizren and their contacts you can find here: http://www.pak-ks.org/?page=2,2.


•  What information should I request from the PAK?

You must request the Documents for the NEW CO you are interested in buying.                                                              

There are specific Documents for each NEW CO.

Sign Confidentiality Agreement for the New Co that you want to bid.

After you sign Confidentiality Agreement you will receive Information Memorandum, Data Room, CLOR and other relevant information.

You can also visit the New Co that you are interested in

Due diligence – research, collection and analyses of information is responsibility of each bidder.


•  When are bids accepted?
Bids are only accepted by hand from 10:00 to 12:00 on the Bid Submission Date, in the place designated by the Agency. Actually, until further notice, bids are submitted at the Red Hall, Youth Center, Str. Luan Haradinaj, Prishtina. These bids will be opened in the same place, starting at 12:30.


•  Can I mail - in my Bid?

No. You MUST DELIVER THE BID ENVELOPES BY HAND.


•  Must I deliver the Bid personally?

No, you can use a friend or a courier. They will be issued a receipt.


•  Will There Be Assistance Available?

Yes. PAK staff will be available to answer questions and provide you with inform


•  How can I get access to official documents?

The Law 03/L-215 guarantees the right of every natural or legal person, without any discrimination, to have access, upon request, on the documents held, drawn or received by public institutions. You can also contact the agency via e-mail address at info@pak-ks.org; by submitting your inquiry form to the Reception Office at the HQ Office of Agency or Regional Offices. The Agency will respond within the timeframe stipulated by the law in question.