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FNM prepares to shut down

SLOVAKIA's privatization agency, the National Property Fund (FNM), is preparing to close at the end of this year.

FNM president Jozef Kojda told the daily SME that, "this institution can close as of December 31."

It is expected that the FNM's assets will be taken over either by the Economy or Finance Ministries. The existing claims should either be sold or transferred to the debt agency Slovenská koncolidacná.

The FNM was created in 1991 in order to administer the state’s stakes in firms and oversee whether investors are meeting the commitments they made when buying the companies.

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

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