FNM to smooth SAD privatisation wrinkles

SLOVAKIA'S FNM privatisation agency will continue selling minority stakes in the country's SAD bus companies as well as addressing investor issues related to the privatisation, said FNM executive committee chairman Pavol Hulík.

Although the previous cabinet had approved buyers for 14 out of 17 regional bus operators, only three privatisation contracts have so far been signed, and some privatisers have complained that delays may prevent them from keeping privatisation contract conditions.

Head of Bystrická Dopravná Spoločnosť (BDS) Adrian Polony said that his firm's interest in SAD Zvolen in central Slovakia was at risk from delays. According to Polony, BDS is obliged to pay Sk72 million ($1.64 million) for a 49 per cent stake in SAD Zvolen by the end of 2002, as well as investing Sk46 million into the company.

French transporter Connex, which bought a 49 per cent stake in SAD Bratislava last spring, has pointed out that current privatisation documents do not show clearly when privatisers would be able to exercise options on further 17 per cent stakes in the SAD companies.

The FNM executive committee was scheduled to meet in early November to discuss these issues and finalise contract details for the remaining SAD stakes.

Top stories

The interactive exhibition Elements of Art is dedicated to the 70th anniversary of the Žilina Music Conservatory on November 18, 2021.

Weekend: US basketball players score big in Slovakia

A potential Christmas present, one hike, nice sports stories, and more. Dive into reading this week's roundup.

26. nov

News digest: Employers finally get manual for employee Covid testing

Bratislava starts the Christmas season online and the refurbishment of one of the biggest fountains in Slovakia. Tatra ski resorts have switched on their snow-making machines.

26. nov
Christmas trees began appearing in the squares during the First Czechoslovak Republic and there is a touching Christmas story behind it.

Lockdown for just two weeks? Forget it, say experts

The experts advising the government expect some rules may lift before Christmas, but only for the vaccinated.

26. nov
Chicago Blackhawks right wing Marián Hossa prepares for a face off against the Florida Panthers during an NHL hockey game in March 2017.

The (in)conspicuous superstar that had to suffer to achieve great things: Marián Hossa

The Slovak hockey player has been inducted into the Hockey Hall of Fame.

25. nov
Skryť Close ad