PULA, Jan 16 (Hina) - On Saturday, 'Istarska' Bank management's president, Mario Floricic and the ship-yard "Uljanik" management's president, Karlo Radolovic, signed an agreement on the financial rehabilitation of this shipyard in the
Croatian town of Pula. The mortgage, raised due to the ship-yard's debt valued at 154 million kuna (approximately US$25 million), was eliminated by this act. The financial rehabilitation agreement could be concluded after representatives of the Croatian Privatisation Fund and 'Istarska' Bank had signed a contract the day before in Zagreb on the transfer of nine firms' shares from the Fund's portfolio to the Pula-based Istarska bank. Commenting on the agreements, Floricic said the total value of the transferred shares equalled the debit claims of the "Uljanik". Istarska Bank has neither earned nor lost by this transaction, according to
PULA, Jan 16 (Hina) - On Saturday, 'Istarska' Bank management's
president, Mario Floricic and the ship-yard "Uljanik" management's
president, Karlo Radolovic, signed an agreement on the financial
rehabilitation of this shipyard in the Croatian town of Pula.
The mortgage, raised due to the ship-yard's debt valued at 154
million kuna (approximately US$25 million), was eliminated by this
act.
The financial rehabilitation agreement could be concluded after
representatives of the Croatian Privatisation Fund and 'Istarska'
Bank had signed a contract the day before in Zagreb on the transfer
of nine firms' shares from the Fund's portfolio to the Pula-based
Istarska bank.
Commenting on the agreements, Floricic said the total value of the
transferred shares equalled the debit claims of the "Uljanik".
Istarska Bank has neither earned nor lost by this transaction,
according to Floricic.
(hina) ms