ZAGREB, Nov 21 (Hina) - The government on Friday rejected a proposal for the financial restructuring of the ailing "Viktor Lenac" shipyard and requested that it be expanded, at the same time expecting the company's former management
to sell their stake to interested parties for one kuna, Economy Minister Ljubo Jurcic said.
ZAGREB, Nov 21 (Hina) - The government on Friday rejected a proposal
for the financial restructuring of the ailing "Viktor Lenac"
shipyard and requested that it be expanded, at the same time
expecting the company's former management to sell their stake to
interested parties for one kuna, Economy Minister Ljubo Jurcic
said. #L#
The Economy Ministry had proposed that the government get involved
in the financial restructuring of the shipyard in the northern
Adriatic city of Rijeka by providing 12 million euros as
collateral.
Austria's Raiffeisenbank and Germany's DEG, which have withdrawn
from the restructuring, are selling their stakes for one euro to
anyone interested in the future of "Viktor Lenac".
"The government expects the same approach from the former
management, who are responsible for the present situation in the
shipyard," Jurcic said.
"The government expects the former management to sell their stake
in 'Viktor Lenac' for one kuna as a moral and ethical act," the
minister said, adding that the government could not force them to do
so.
According to Jurcic, the former management hold three to four per
cent of the shares in the shipyard.
(hina) vm sb