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Likely Wednesday Signing of Contract for TAM Sale

Maribor, 28 December - In accordance with the decision of the bankruptcy senate on the sale of the assets of bankrupt vehicle manufacturer TAM to a consortium of buyers sponsored by the Slovene Development Corporation (SRD), the bankruptcy director, Mirko Zagar, must by Wednesday 29 December sign a sales contract with the buyers in the value of SIT 9.4 billion (euro 47.7 million). The consortium must also pay the allocated 10-percent deposit by 29 December, which means that they have to add SIT 240 million to the SIT 700 million which is already on TAM's account as security.

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© STA, 1999