Serbia’s Bankruptcy Supervision Agency has agreed to sell insolvent rolling stock repairer and manufacturer Zelvoz to local company Victory Solutions. The value of the transaction is 163 million dinars (EUR 1.3 million). The creditors of Zelvoz approved the sale of the company to Victory Solutions.
In February, the agency said the estimated value of the assets of Zelvoz, including a rail carriage repair hall, the entire capital of four subsidiaries, spare parts and accounts receivables, was 1.153 billion dinars (EUR 9.3 million). Zelvoz entered insolvency proceedings in July 2015, with a large debt to the state and employees. Тhe Serbian government unsuccessfully tried to sell the assets of the company twice, in June and November 2016.
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