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December 5 (SeeNews) - Serbia's state-run railway operator Zeleznice Srbije said it has signed an agreement with a bailiff to halt the compulsory sale of the entire capital of its research, design and engineering subsidiary CIP.
The company signed on December 1 an agreement defining the way of repayment of debt to employees, guaranteed with a pledge on 100% of the capital of CIP, Zeleznice Srbije said in a statement on Monday.
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The bailiff had called a public tender for the sale of the entire capital of CIP on December 18, as in 2014 and 2015 Zeleznice Srbije lost a number of lawsuits filed by employees over the lack of payment of compensations for working in shifts, the company said.
Zeleznice Srbije repaid about 2 billion dinars ($19.8 million/16.7 million euro) to the employees in the last two years, the railway operator added.
(1 euro = 119.613 dinars)
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