|
27. August 2002 |
Serbia takes over bank equity from Yugoslavia
BELGRADE - Yugoslavia has transferred its ownership in 16 local banks to Serbia's government, which is due to sell $390 million worth of the equity to outside buyers within six months, the Official Gazette said on Tuesday.
The transfer is the first step in the implementation of a law that obliges local banks, which owed money to sovereign and commercial creditors, to swap their debt into state-held equity.
|
|
|
|
|