ZAGREB, June 21 (Hina) - The Croatian government at Wednesday's session reached a decision to sell 50,209 shares of the Brodoremont company from Zadar under special conditions, for one kuna. The said shares are worth a little over 15
million kuna (US$1.9 million), and account for 60.39 percent of Brodoremont's basic capital. The Croatian Privatisation Fund (HFP) owns 49.49 percent, and the Croatian Pension Insurance Fund 10.9 percent of the shares. The condition for the sale is that the buyer propose a programme under which Brodoremont will settle obligations to employees, suppliers, and the state budget, in the amount of 18.8 million kuna (US$2.38 million). In case the buyer is willing to pay for less than the encountered amount of obligations, HFP is authorised to negotiate the matter, but up to a maximum 15 percent reduction of the obligations, which must then be distributed proportionately to all c
ZAGREB, June 21 (Hina) - The Croatian government at Wednesday's
session reached a decision to sell 50,209 shares of the Brodoremont
company from Zadar under special conditions, for one kuna.
The said shares are worth a little over 15 million kuna (US$1.9
million), and account for 60.39 percent of Brodoremont's basic
capital. The Croatian Privatisation Fund (HFP) owns 49.49 percent,
and the Croatian Pension Insurance Fund 10.9 percent of the
shares.
The condition for the sale is that the buyer propose a programme
under which Brodoremont will settle obligations to employees,
suppliers, and the state budget, in the amount of 18.8 million kuna
(US$2.38 million).
In case the buyer is willing to pay for less than the encountered
amount of obligations, HFP is authorised to negotiate the matter,
but up to a maximum 15 percent reduction of the obligations, which
must then be distributed proportionately to all creditors.
(hina) ha jn