Ljubljana stock indices edge up in lower turnover
Bosnia's Federation retail sales up real 8.8% y/y in Oct
Most Sofia bourse indices end higher, Eurohold paces gainers
Podravka, Adris boost Croatia’s share indices in lower turnover
Romanian stock indices turn green, MedLife shines
Nov 22, 2007 15:41 EEST
November 22 (SeeNews) - Moldova's breakaway region of Transdniestria has sold poultry farm Grigoriopol for $816,000 (550,300 euro) to Moldovan-registered company Lendergrup, Russian privately-held news agency Novii Region reported on Thursday.
Lendergrup was the sole bidder in the tender, the agency reported.
You can subscribe to our M&A newsletter here
Company officials were unavailable to comment.
The company pledged to invest $6.8 million in the modernisation of the farm's facilities in the next five years. It should also raise the company’s working capital by $1.5 million.
"We will finish the upgrade and will install new Italian equipment by this summer," Novii Region quoted Lendergrup's director general Ibragim Sagidov as saying. "The farm, which is in a very bad condition, will start operations after one year."
Lendergrup owns a meat processing plant in Transdniestria.
Transdniestria is located on the left bank of the Dniestr river in eastern Moldova. It broke away from Moldova in 1990 as its largely Slavic, pro-Russian population feared that the country's Romanian-speaking majority would unite the country with neighbouring Romania.
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options