Published on: 8.2.2010 | 10:34
Last update on: 8.2.2010 | 10:35

PRIVATIZATION

State to write off HRK 7bn debt to shipyards?

Author/source: SEEbiz
RIJEKA – In a week, the second call for privatization of six state-run shipyards will be released, which is their last chance to find a serious investor prior to bankruptcy, Novi list writes.

The terms will remain the same as in the first call last summer. Namely, shipyards in Rijeka, Kraljevica and Trogir will be sold for HRK 1, while Split-based special vehicle shipyard BSO and Uljanik (ZSE:ULJN-R-A) will be offered for HRK 18.16mn and HRK 397mn.

Potential buyers need to submit an investment plan and business plan which would guarantee the shipyard will be operational for five years. Also, existing collective agreements must be kept along with all workplaces or their compensations in case there is redundancy.

The only difference in the second call would be the compensations for land the state is paying shipyards which could reach HRK 6-7bn, compared to previously offered HRK 2-3bn.
 

 

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