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01. April 2003 - Tuesday |
US Steel buys Sartid without its debts
BELGRADE - The US Steel Balkans company has bought Serbia's Sartid iron and steel works without the obligation to pay Sartid's 1.7-billion-dollar debt, due to which the company entered the bankruptcy proceedings, a news conference was told in Belgrade on Tuesday.
Bankruptcy proceedings are being held throughout the world to free the buyer from the burden of debt and ensure that he enters a new deal free of obligations, the US Steel Corporation's executive president for international activities and diversification said.
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