The Slovenia Times

Croatia gives go-ahead to Cimos debt deal


Under the Croatia's government decision, BAMC is to pay for the debt within 15 days. In return, BAMC's Croatian counterpart DAB is to withdraw its suit against Cimos.

The deal, agreed on Monday by Slovenia's economy minister and Croatia's minister for state assets, is key suspensive condition for the finalisation of Cimos's sale to Italy's Palladio Finanziaria.

The Italian buyer is yet to say whether it finds the deal acceptable.

The deal is said to have TCH Cogeme, through which the Italian fund is to mount the acquisition of a 92% stake in Cimos, commit to preserve production and current jobs in Cimos's Croatian subsidiaries in Croatia over the next two years.


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