MG Rover to hammer out deal with Daewoo-FSO creditors

In a few days all the creditor banks of Daewoo-FSO are to specify their demands towards MG Rover, which plans to invest in the Zeran plant. The government does not exclude tax relief for the banks which will take part in restructuring the company. During Thursday's meeting between MG Rover, Daewoo-FSO and the creditors, it was decided that at the beginning of next week a contract will be signed by the banks concerning the evaluation of assets offered with the investment of MG Rover. Maciej Lesny, the Undersecretary of State in the Ministry of Economy, Labor and Social Policy, informed the media that MG Rover presented four financial partners. The British company said that it is considering linking its offer to the American offset programme. Lesny admitted that Rover did not answer any questions concerning the details of the contract, nor present documents confirming their partners interest in cooperation. (Rzeczpospolita, p. B2) A.C.