ZAGREB, April 2 (Hina) - By accepting the programme for rehabilitation and restructuring of the "Tisak" company, the Croatian Government decided that six Croatian banks would become owners of that firm. The financial crisis and huge
debts of Tisak, the biggest newspapers distributional company, has put the publishing of numerous magazines and dailies in jeopardy. The consortium of banks - Croatian Postal Bank, Privredna Zagreb, Dalmatinska, Splitska, Dubrovacka and Istarska - will take over "Tisak" paying one kuna (0.14 US $) per a share. Under the rehabilitation programme accepted by the Government on Thursday, additional 45-60 million German marks are to be invested into the company. During the first stage of rehabilitation, the ownership structure is to be changed in favour of the aforementioned six banks. A part of debts which 'Tisak' failed to settle with these banks will be transfor
ZAGREB, April 2 (Hina) - By accepting the programme for
rehabilitation and restructuring of the "Tisak" company, the
Croatian Government decided that six Croatian banks would become
owners of that firm.
The financial crisis and huge debts of Tisak, the biggest
newspapers distributional company, has put the publishing of
numerous magazines and dailies in jeopardy.
The consortium of banks - Croatian Postal Bank, Privredna Zagreb,
Dalmatinska, Splitska, Dubrovacka and Istarska - will take over
"Tisak" paying one kuna (0.14 US $) per a share.
Under the rehabilitation programme accepted by the Government on
Thursday, additional 45-60 million German marks are to be invested
into the company.
During the first stage of rehabilitation, the ownership structure
is to be changed in favour of the aforementioned six banks. A part of
debts which 'Tisak' failed to settle with these banks will be
transformed into the ownership, whereas two thirds of the debts
will be rescheduled. After that the banks should ensure the
infusion of the additional capital. The injection of fresh capital
will enable "Tisak" to pay incurred debts.
(hina) ms