Uljanik may receive a millionaire loan from the government of Croatia. A lump sum of EUR 96 million (USD 115.6 million) may be provided to help the shipbuilder.

Hrvatska poštanska banka (HPB) and other banks (international and/domestic), would be behind this operation, according to a stock exchange filing provided by Uljanik. The loan is intended to be approved by the European Commission by the end of the current month.

According to local media, the Minister of Finance of CroatiaZdravko Marić, said the loan would be for materials needed for the ships construction, loan repaying, suppliers, among others.

Within the conditions set by the government, the company will have six months to pay back or the shipbuilder would need to submit a restructuring scheme, this including a new strategic partner.

Two companies, so far, have demonstrated interest on joining Uljanik’s ownership structure; Kermas Energija and Palumbo Group.


Source: http://bit.ly/2Dg66EK