Contracts for the sale of shares of Dalekovod Professio signed


Dalekovod, d.d. (hereinafter: “the Company”) informs the public that on 31 December 2018 they have signed the contracts for the sale of shares of the company DALEKOVOD PROFESSIO d.d. (wind power plants) of the total value of 115 million HRK.
The funds obtained by the sale will be used in the following way, in accordance with the Company’s pre-bankruptcy settlement: 55% of the funds will be used to repay the debt to mezzanine creditors, while 45% of the funds will be used for further financial and operative restructuring, financing the working capital and managing the liquidity, all for the purpose of improving the Company’s operative efficiency and profitability.

By completing this transaction, the Company achieved its main goals: (i) reducing the Company’s financial liabilities, (ii) the continuity of fulfilling its obligations in accordance with the pre-bankruptcy settlement, (iii) further implementation of financial and operative restructuring.
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