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Majetkovy Holding to buy the biggest claims package ever

THE FINANCIAL company Majetkovy Holding will buy the biggest package of claims ever purchased from the government bailout agency Slovenská konsolidačná (SKo). The packaged has a nominal value of Sk42 billion (€1.02 billion), the SITA news wire reported.

The price was set at Sk863 million (€21.06 million), which is 2.85 percent of the principal of Sk30 billion (€732.09 million).

Along with Majetkovy holding, four other financial companies presented their bids, ranging from 2.22 to 2.85 percent of the principal price of the claims, which is the nominal price without interest gains.

SKo, a 100 percent subsidiary of the Slovak Finance Ministry, has been operating since 1999. Its mission is to settle classified claims transferred from state-owned banks prior to their privatisation.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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