"Simpo" signed agreements with banks, account blockade to be terminated
The agreement is signed with the possibility to extend its validity by 31 December this year.
- According to the agreement, banks will withdraw an account blockade of "Simpo" and its related companies. The same will be done by Tax Administration after the Government’s decision – specifies Disic.
As he continues, the debt settlement agreement is the first big step towards "Simpo" consolidation that would provide commencement of production in September.
The Agreement will be valid when verified by Serbian Government, which is expected in the weeks to come. At the same time process of "Simpo’s" debt conversion will be transformed into permanent stake of Serbian Government, therefore, the Government will become its majority shareholder – said Disic.
The Debt settlement agreement has been signed between Postal Savings Bank, Bank Intesa, Hypo Alpe Adria, Serbian Bank, Universal Bank. NLB Inter Finance AG Zurich, New Agrobank Belgrade on one hand and "Simpo" company and its related entities, as debtors, on the other hand.
Credit rates, interest rates and other bank payments are valued at EUR 11 million, specifies Disic.
During the period of debt settlement, as he explains, "Simpo" will arrange certain grace period and new conditions on credit repayment with each bank, with intermediation of some independent consultant companies.
- Our plan of business consolidation includes gradual use of full capacities by the end of the year, which means that sale of goods in December is EUR 5 million – says Disic.
The debt for unpaid taxes and contributions that will be taken over by the Government, when it is a majority shareholder, is RSD 5.7 billion.
"Simpo" company employs 4,413 people.
Most Important News
06.04.2024. | Agriculture
Preconditions for Placement of Fresh Blueberries and Dried Plums in Chinese Market Secured
16.04.2024. | News
Jovan Ciric, Leasing Director Retail MPC Properties – MPC Echo symbolizes our desire for good ideas and innovative endeavors to spread freely and bring about positive changes
16.04.2024. | News
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
Creative Industry – What This Serbian Economy Sector Worth EUR 2 Billion Encompasses
10.04.2024. | Finance, IT, Telecommunications, Tourism, Sports, Culture
23.04.2024. | Construction, Transport
Tender for first section of Belgrade-Nis fast railroad from Velika Plana to Paracin announced
23.04.2024. | Construction, Transport
16.04.2024. | News
Economy Fair in Mostar opens – 26 companies from Serbia exhibiting
16.04.2024. | News
22.04.2024. | Industry, Transport
Serbia to develop project of “flying taxis” for EXPO with Airbus – Signing of memorandum announced
22.04.2024. | Industry, Transport