Creditors accept ownership changes at Nafta Gbely

The creditor banks of gas storage firm Nafta Gbely have accepted both the company's recent ownership changes and its financial recovery plan.

An October 1 meeting in Vienna between the creditor banks, Slovak FNM state privatisation agency officials and Nafta Gbely representatives produced agreement over a recent set of changes at the gas firm. According to the deal, a 45.9% stake in Nafta will be transferred to the FNM's account, following which the Slovak gas utility SPP will help to restructure Nafta Gbely's finances.

The FNM and SPP, as the future owners of a controlling interest in Nafta Gbely, pledged to protect the interests of creditor banks by making changes to the management.

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