Are you sure?

Tisza Cipő announced for sale

The State Privatization and Holding Zrt (ÁPV) announced the sale of the 99.37% stake in shoe manufacturer Tisza Cipő Zrt on Friday.

Bids are accepted until February 19. Tisza Cipő Zrt has a base capital of Ft 878 million and had a net revenue of Ft 19 million in 2005. Tisza has been producing losses for several years and the company received a loan of Ft 115 million from ÁPV in 2003 to finance the company’s reorganization. From this loan Tisza repaid Ft 80 million, but the new owner should also take the responsibility for the remaining Ft 35 million. (Gazdasági Rádió - Privátbankár)