Prepack plan for Petrohemija and solving debts totaling EUR 530 m - Solution for Ikarbus, 21. oktobar, Politika, Trayal in progress

State Secretary at the Ministry of Economy of Serbia Dragan Stevanovic said Prepack plan model will be implemented in Petrohemija but that company debts must be solved first. - Now, the working group is aligning debtor and creditor relations. The idea is that EUR 530 of inherited debts which burden today positive current business of Petrohemija, which refers to Srbijagas and NIS, are solved through the the model of debt write-off, conversion of a portion of debt into capital and payment of portion of debt from NIS. The state will take it over on public debt and it was aligned with IMF. Thus, Petrohemija will relax from the debt of 530 million euros - he said.Stevanovic said that it will fully create conditions for Petrohemina to have positive current operations and added it will make Petrohemiija more attractive to partners.He said the model of prepack plan will also be implemented in Ikarbus, Kragujevac-based 21. oktobar, Politika and Krusevac-based Trayal. Stevanovic explained these companies are no longer protected and operate under market conditions and prepack plan includes plan how these companies will do business in the next 5-6 years.

HIP-Petrohemija a.d. Pančevo

JP Srbijagas Novi Sad

NIS a.d. Novi Sad

Ikarbus a.d. Zemun

21. Oktobar Kragujevac

Politika a.d. Beograd

Trayal korporacija a.d. Kruševac

Ministarstvo privrede Republike Srbije

Petrohemija

Srbijagas

NIS

Dragan Stevanović

Unapred pripremljeni plan reogranizacije

UPPR