CORPORATE NEWS

Matador sold 69.7 percent stake

A majority stake (69.7 percent) in the tire producer Matador Inc., Púchov, was sold for 1.582 billion Sk last week by the company of management and staff to Matador Holding Inc., Púchov. Matador Holding's Board of Directors and Supervisory Board include Matador's General Director Štefan Rosina and his two sons, as well as the company's Executive Director, Gustáv Hanták, and his son. According to an unspecified source, the sale is related to the negotiations regarding the foreign partner entering Matador. Recently, Matador was conducting negotiations with Japanese tire producer Bridgestone. The company comprised of management and staff purchased almost 100 percent of Matador in 1994 from the National Property Fund for 1.219 billion Sk, with a clause that 1 billion Sk will be discounted if invested.

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