ZAGREB, March 23 (Hina) - A consortium of six Croatian banks should take over the "Tisak" newspaper distribution company, at a price of one kuna (US$0.14) per share. Banks will take over all commitments of the company, publishers,
banks and the Croatian Privatisation Fund representatives agreed on Tuesday. Banks would borrow DM45 million, and pay the publishers, the Rovinj tobacco company and other deliverers the money owed to them by Tisak within 60 days. Vice Medjugorac, a representative of publishers, said the suggestions are expected to be adopted by the Privatisation Fund, banks and the Government. There will be no more meetings, he said, because the Government, banks and the fund will make decisions on the distribution company's financial rehabilitation. The consortium of banks will take over more than 90 per cent of shares of the Tisak company, that is, everything currently owned by the Croatia
ZAGREB, March 23 (Hina) - A consortium of six Croatian banks should
take over the "Tisak" newspaper distribution company, at a price of
one kuna (US$0.14) per share.
Banks will take over all commitments of the company, publishers,
banks and the Croatian Privatisation Fund representatives agreed
on Tuesday.
Banks would borrow DM45 million, and pay the publishers, the Rovinj
tobacco company and other deliverers the money owed to them by Tisak
within 60 days.
Vice Medjugorac, a representative of publishers, said the
suggestions are expected to be adopted by the Privatisation Fund,
banks and the Government.
There will be no more meetings, he said, because the Government,
banks and the fund will make decisions on the distribution
company's financial rehabilitation.
The consortium of banks will take over more than 90 per cent of
shares of the Tisak company, that is, everything currently owned by
the Croatian Privatisation Fund, Medjugorac said.
The Fund's president, Stipe Hrkac, will submit the rehabilitation
suggestions to the Government which should adopt them at a session
on Thursday.
(hina) lml