After several months of negotiations, all details have been agreed upon for the deal in which the Italian financial fund Palladio Finanziaria will acquire the Koper-based group Cimos, which operates three plants in Croatian Istria, reported the Ljubljana daily Dnevnik on Friday, citing unofficial sources.
Although the unions demanded that the Italian fund provide guarantees regarding the retention of the number of employees as part of the deal’s realization, such guarantees will not be included in the agreement to be signed next month. However, the unions have secured a commitment from the Italian investor to ensure severance payments that are 15 percent higher than the minimum required by law in the event of layoffs, Dnevnik reported.
>>>Union Satisfied with the Outcome of Cimos Acquisition Negotiations and the Arrival of a New Owner
The financial terms for the acquisition of Cimos have not changed compared to the pre-contract signed last year, so Palladio Finanziaria will acquire the Slovenian company, which once employed 6,000 workers and now around 4,000, for a symbolic 100,000 euros, along with 110 million euros of its financial obligations.
