Financially troubled Serbian newspaper distributor Futura Plus has a new owner that will hopefully settle its debt and turn the company around. Rus Press, a Russian company owned by billionaire Oleg Deripaska, has agreed to acquire 100% of Futura Plus for an undisclosed amount. The company has been owned by controversial Serbian businessman Stanko Subotic Cane since 2006. Recently Futura’s financial accounts have been blocked due to €2.15 million in outstanding debt. Serbian authorities must still approve the sale but no problems are anticipated.
Futura Plus (www.futuraplus.rs)
Futura Plus is a Serbian news distribution company with more than 1,150 sales outlets across the country and 200 service vehicles making deliveries outside of Serbia. In addition to newspapers, magazines, and tobacco products, Futura outlets carry a wide range of convenience consumer products.
Formed in 2006, the company is the result of a merger of four other similar operations: Duvan, Politika Prodaja, Borba, and Duvan promet.
Futura Plus employs more than 3,300 throughout all company operations and controls 22% of the Serbian news outlet market. Company headquarters are located in Zemun, Serbia.
October 13, 2009
Central & Eastern Europe, Serbia