Viro and Zito want to buy Osijek sugar plant after announced sale or bankruptcy
A surprising announcement by the head of Osijek-based Kandit Group Josip Pavic he was considering a bankruptcy or sale of its sugar plant in case a state-owned company would not settle its debt, revived the idea of merging the sugar plants in Slavonia. Even Pavic said Croatia had at least one sugar plant too many.Pavic’s statements confused his partners and subcontractors, as well as the competition in Virovitica and Zupanja, and the Ministry of Agriculture. While the company does have certain problems, it is not realistic that the owners would actually shut it down. Three or four years ago, all three sugar plants in Croatia – Kandit Premijer, Viro and Sladorana – talked about forming a joint venture, but the project was not realized due to Pavic’s indecisiveness.Viro confirmed it would be interested in buying the Osijek-based sugar plant if it will be sold. One of Kandit’s partners – Zito – also says it would probably be interested. (Source: www.limun.hr original text was published in Poslovni dnevnik)
Special tax stays for 344,000 citizens
With proposal amendments to two laws, the Government formalized the announced decision to abolish the 2-percent special tax rate for salaries and pensions between HRK 3,000 and HRK 6,000. This way, 720,000 workers and 190,000 pensioners will be released from paying the special tax as of July 1.The 4-percent tax rate (for salaries and pensions above HRK 6,000) will still be paid by 310,000 workers and 34,000 pensioners. Since introducing the special tax on August 1, 2009, the state collected around HRK 1.7bn. (Source: www.limun.hr original text was published in Privredni vjesnik)
Agreement between OTP and Podravka on settling EUR 3.91m by April
The transaction that financed the purchase of Podravka’s stocks by Fima Ami was a normal market transaction under favorable terms for OTP Bank, and it allowed Podravka to stay in Croatian ownership, CEO and General Director of OTP Bank Sandor Csanyi said at a briefing with the Croatian press on Thursday in Budapest.Despite the fact the transaction was carried out in line with the international and Hungarian regulations, OTP Bank’s officials are aware of the negative publicity it had caused, and say that with today’s knowledge they would not take part in it. At this moment, OTP’s total claim is worth EUR 36.71m (EUR 35.55m in loan plus EUR 1.16m in interest). (Source: www.limun.hr original text was published on www.banka.hr)
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