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Macedonia's Stopanska Banka Skopje signs deal to sell debt owed by Feni Industries

Macedonia's Stopanska Banka Skopje signs deal to sell debt owed by Feni Industries Author: Ken Teegardin. License: Creative Commons, Attribution 2.0 Generic.

SKOPJE (Macedonia), March 13 (SeeNews) - Macedonia's Stopanska banka Skopje [MSE:STB] said on Tuesday it has signed a contract for the sale of a 921.8 million denars ($18.6 million/15.0 million euro) debt owed to the lender by ferronickel producer Feni Industries.

The deal was signed on March 13, Stopanska banka Skopje said in a bourse filing. The buyer was not named.

In October, Feni Industries' largest creditors - Stopanska banka Skopje, Komercijalna Banka Skopje and Silk Road Bank Skopje, filed a motion to a local court for the opening of bankruptcy proceedings against the ferronickel maker. Subsequently, bankruptcy proceedings were opened in November.

Feni Industries is a pyro-metallurgical ferronickel producing plant, located in Kavadarci. The plant's annual nickel production amounts to around 20,000 tonnes per year.

In October, Macedonian news agency MIA reported that Feni Industries has been acquired by Bulgarian company Enekod.

(1 euro=61.4178 denars)

 

 

 


 

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