Liquidator splits Bábolna
Monday, August 1, 2005, 11:39
Reorg Rt, the liquidator of debt-ridden state agricultural conglomerate Bábolna Rt, is preparing to sell a cold storage facility in Nagyigmánd, northwestern Hungary, which is owned by a Bábolna subsidiary comprising the latter's profitable activities, daily Népszava said. Bábolna Food Industries Rt will divest the assets, equipment and employee base of the refrigerated warehouse, while retaining its stock. The transaction is to be managed by Reorg subsidiary Reorg-Audit Kft, which will accept bids until August 19. All privatization revenues from Bábolna Food Industries will go towards repaying the parent company's Ft 30 billion debt.