Serbia will acquire a stake in troubled glass plant SFS in exchange for EUR 20 million (USD 26 million) of company debt, the local authority of Paracin in central Serbia, where the factory is located,…
Serbia will acquire a stake in troubled glass plant SFS in exchange for EUR 20 million (USD 26 million) of company debt, the local authority of Paracin in central Serbia, where the factory is located, said on 10 February 2009. Most of the money is owed to the country“s gas monopoly Srbijagas, an official from the town hall, who refused to be named, said. SFS officials were not immediately available for comment. The debt-for-equity swap will facilitate investment in the plant, Paracin council said in a statement.