State fails to sell Kapuvári meat assets, 7th tender set

Analysis

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.

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