Intereuropa sells Chekhov logistics center

(Photo: intereuropa.si)

Intereuropa yesterday signed an agreement to sell its Chekhov logistics center to the Russian company UCTAM, a subsidiary of the Italian banking group UniCredit.

In accordance with the agreement, the buyer will commit EUR 45 million to mortgagees (banks).

By selling Chekhov, Intereuropa may get rid of "the biggest rock around its neck" - the company has reduced the debt that was earlier estimated at over EUR 160 million. Mortgagees have promised to convert a portion of their claims into the company's capital, which should cut Intereuropa's debt to about EUR 100 million.