State fails to sell Kapuvári meat assets, 7th tender set
State-owned liquidator National Reorganization Nonprofit (NRN) cancelled the contract it signed with Saudi Arabian investors in May to sell the assets of troubled meat companies Kapuvári Hús and Kapuvári Bacon after the investors failed to meet the payment deadline, NRN Managing Director Csaba Kovács told Hungarian news agency MTI late yesterday.
Kovács said that the investors had neglected to pay the amount stipulated in the contract before the expiration of the 40-day deadline and eight-day grace period.
The director added that National Reorganization Nonprofit is planning to issue a seventh tender as soon as possible for the assets of Kapuvári Hús and Kapuvári Bacon, which have been under liquidation since autumn 2012.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.