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June 11, 2003 - Wednesday |
Company Jelen Do sold for $3.7 million
June 11 (IIS, Tanjug) - Privatization Agency stated that the contract has been signed on selling 70% of socially owned capital in firm Jelen Do, located near Cacak for $3.7 million.
Buyer is consortium composed by American firm ST Michael Enterprises and Montenegrin Luka Bar. Buyers are obliged to invest $11.5 million in company during first year and $800,000 in social care programs; also not to fire workers in next 5 years.
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