Batagon officially acquires FAS

Swiss company Batagon International AG has officially become the new owner of the Car Battery Factory from Sombor (FAS) which the Swiss bought for 7.35 million EUR.

For now, the FAS workers can hope only to be paid some of the outstanding salaries, but the exact amount will be revealed in spring after the review of all bankruptcy costs.

To remind, in early December, the board of creditors accepted the offer from the Swiss company and authorized the bankruptcy trustee to finalize the procedure of the sale of FAS.

“I am very pleased that the agreement (on acquisition of FAS) has been signed. I will be even more pleased when the factory becomes operational, as there’s a long road ahead, considering the general state of its assets. So far, there have not been any problems and I assume that Batagon will adhere to all the terms of the agreement”, Predrag Ljubovic, the FAS’ bankruptcy trustee, says.

Ljubovic notes that the deadline for the payment of the offered price is 15 days from the signing of the agreement. The bankruptcy trustee said that the handing over of the assets, along with the inventory, would be carried out upon payment.

He adds that the company’s liabilities were substantial, and that the costs of the bankruptcy proceedings were also huge. FAS has several creditors including IFC, Mediolanum Invest, Komercijalna Banka and Halkbank.

A part of the money from Batagon will redirected towards the Solidarity Fund, which has paid a part of the outstanding salaries – the website SOInfo reports.

(Vecernje Novosti, eKapija, 19.12.2017)


This post is also available in: Italiano

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