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| Sunčani Hvar' shareholders agreed on future cooperation In Zagreb, representatives of The Ministry of Agriculture, Fisheries and Rural Development of Croatia, The Croatian Privatization Fund, and developer Orco Property Group, based in Luxembourg, signed an agreement at the Ministry of Agriculture, Fisheries and Rural Development of Croatia. Two major shareholders of the company Sunčani Hvar, ORCO Property Group 55% and Croatian Privatization Fund 32%, have agreed to reduce the indebtedness of the Company by HRK 41.21 million by swapping parts of the existing shareholders loans into the Company's equity. The agreement also includes an additional release of liability for the Company of HRK 22.2 million in shareholder loans interest, which the two major shareholders have agreed to write-off. write your comments about the article :: © 2011 Construction News :: home page |