ZAGREB, May 7 (Hina) - Within seven to ten days, the Croatian Government, with the cooperation of all interested parties, will make public the conditions for the purchase of the chain of department stores "Nama". The Government will
also from next Thursday set aside funds for a US$1.43 million loan for the payment of two months' salaries for Nama employees. The strategic investor who should take over Nama and its debts will be searched for in public, Economy Minister Nenad Porges said on Friday after a meeting at the Ministry concerning the Nama crisis. This will not be easy as it is not only about DM115, as are demanded by the Privredna Bank Zagreb and suppliers, but also funds for salaries and a part of fixed expenses which amounts to DM1.8 million a month, he said. The Privredna Bank Zagreb which has insured Nama's debts to it with a mortgage on ten Nama's stores, is prepared for a compromise solution re
ZAGREB, May 7 (Hina) - Within seven to ten days, the Croatian
Government, with the cooperation of all interested parties, will
make public the conditions for the purchase of the chain of
department stores "Nama".
The Government will also from next Thursday set aside funds for a
US$1.43 million loan for the payment of two months' salaries for
Nama employees.
The strategic investor who should take over Nama and its debts will
be searched for in public, Economy Minister Nenad Porges said on
Friday after a meeting at the Ministry concerning the Nama crisis.
This will not be easy as it is not only about DM115, as are demanded
by the Privredna Bank Zagreb and suppliers, but also funds for
salaries and a part of fixed expenses which amounts to DM1.8 million
a month, he said.
The Privredna Bank Zagreb which has insured Nama's debts to it with
a mortgage on ten Nama's stores, is prepared for a compromise
solution regarding a rescheduled debt, depending on the
credibility of a potential strategic investor.
Nama employees have been on a hunger strike the past ten days,
requesting the bank's rescheduling of Nama's debts. They
discontinued their strike on Friday.
The Croatian Trade Union which organised a strike in front of the
Government building on Thursday, will abstain from further actions
until next Thursday when the Government loan for the salaries
should arrive.
(hina) lml jn