67% of Hydrostav sold

A 67 percent share in the construction firm Hydrostav was sold to Stavebné závody Hydrostavu Inc. for 110 million Sk (167 Sk per share) on the Bratislava Stock Exchange, the Práca daily reported. The purchaser, a joint stock company owned by top management (34 percent), middle management (17 percent), and Hydrostav employees (49 percent), acquired the shares from the National Property Fund, the state-owned entity which manages privatization transactions. The new owners pledged to invest 520 million Sk into Hydrostav in the next four years. Hydrostav's gross profit was 155 million Sk in 1995.

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