Koksara Lukavac bankruptcy asset sales

Following failed attempts to sell the Koksara Lukavac industrial complex as a single entity, bankruptcy administrator Almir Bajrić announced a strategy to sell the company’s assets in individual parts. The shift to a partial sale model was intended to attract a broader range of investors, as previous efforts were hindered by high acquisition costs and the significant capital required to restart coke production.

The complex comprises various functional units, including the Maleic Anhydride (AMK) factory, Energana, Remont, Azotara, and a filter station. Implementation of this strategy has begun, with the first asset, the Modrac filter station, being sold to the City of Lukavac for 3.14 million KM through an expropriation process.

Further sales of six to seven other production units are expected to follow, including the AMK, Energana, and Azotara factories, as well as land along the Lukavac–Doboj highway intended for a business zone. There is reported interest from European Union investors due to the facilities' energy capacities and railway connectivity.

Proceeds from these transactions are intended to settle outstanding debts, including severance payments for former workers estimated between 5 and 5.5 million KM. More than 2.5 million KM is scheduled to be paid out to former employees around October 23, which is expected to cover approximately 50 to 60 percent of their total claims. Former workers have previously protested to demand faster settlements and the recognition of their years of service for pension purposes.