Southern steel sale
Złomrex also agreed to cover some HRK 165 (zł.85) million of the firm's debts, amounting to some $86 (zł.241) million.
This was the Croatian government's fifth attempt to sell the mill. The last attempt was made in December when Ukrainian-Croatian consortium Armko Smart won a tender but later said it was not able to meet its obligations.
Located in Split, eljezara's employees own 10 percent of the mill. It was on sale for a nominal price of HRK 1.
In order to ease pressure on the budget and bring state aid in line with EU standards, the Croatian government has recently been pushing to restructure and privatize struggling industries. (Reuters)
