ZAGREB, June 2 (Hina) - The Croatian Government on Friday decided to sell 51.02 per cent of shares of the Zadar Textile Industry (TIZ) for one kuna. A condition is the take over of TIZ debts and keeping the existing number of
employees, as well as the purchased share during the next five years. The nominal value of 135,104 shares from the portfolio of the Croatian Privatisation Fund (HFP) is DM13.51 million. Within 30 days at the latest from the signing of the contract, the buyer is obligated to initiate production and will take over the commitment of a possible investment into the company. The buyer will also offer a development and investment programme and submit to the vendor an appropriate guarantee for the fulfilment of assumed commitments. The buyer will not be able to sell or burden the company's property for five years from the signing of the agreement, except real-estate announced for sale in the National Gazette
ZAGREB, June 2 (Hina) - The Croatian Government on Friday decided to
sell 51.02 per cent of shares of the Zadar Textile Industry (TIZ)
for one kuna.
A condition is the take over of TIZ debts and keeping the existing
number of employees, as well as the purchased share during the next
five years.
The nominal value of 135,104 shares from the portfolio of the
Croatian Privatisation Fund (HFP) is DM13.51 million.
Within 30 days at the latest from the signing of the contract, the
buyer is obligated to initiate production and will take over the
commitment of a possible investment into the company.
The buyer will also offer a development and investment programme
and submit to the vendor an appropriate guarantee for the
fulfilment of assumed commitments.
The buyer will not be able to sell or burden the company's property
for five years from the signing of the agreement, except real-
estate announced for sale in the National Gazette of March 10, in
order to unblock the company's account and moving to another
location.
Besides the Croatian Privatisation Fund, other share-holders are
Dalmatinska Bank with 25.61 per cent, small share-holders with
15.46 per cent and the rest is owned by four companies.
(hina) lml jn