It starts already

Article Abstract:

Konsolidacni banka (KOB) (Prague, Czech Republic), state bank, will sell a pilot package of receivables with a nominal value of CEK 19.051 bil in Feb 2001. The package will be bought by the investment bank Goldman Sachs (GS) (US) for CEK 1.353 bil, 7.1% of its nominal value. The package includes roughly 500 receivables towards 299 clients. The transaction and the sale of other packages will be done under the supervision of the Czech government. According to preliminary results, KOB expects a loss of CEK 12.7 bil for 2000. Its balance sum was CEK 205.4 bil as of 31 Dec 2000. KOB will be transformed into Konsolidacni agentura (Czech Republic) from 01 Sep 2001. The agency will have more possibilities to dispose of assets than KOB.

United States, Securities Dealers, Investment Banking and Securities Dealing, Security brokers and dealers, Goldman Sachs and Co.

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GE Capital acquires Agrobanka

Article Abstract:

Agrobanka (AGB) (Czech Republic), bank, sold its healthy part to GE Capital (US) for 500 mil Kc on 22 June 1998. GE Capital is a subsidiary of the concern General Electric (US). GE Capital has taken over AGB's branch network together with obligations worth nearly 30 bil Kc towards depositors and other creditors and chose a part of assets to cover them. AGB's balance sum after the sale amounts to about 28 bil Kc, 12.7 bil Kc of which is represented by a bridge-over credit granted by Czech National Bank (Czech Republic). AGB will keep its name and logo.

Comment:

Acquires healthy part of Agrobanka for 500 mil Kc on 6/22/98

General Electric Capital Corp., Article, Agrobanka

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Let Kunovice is for sale again

Article Abstract:

c (Kunovice, Czech Republic), aircraft manufacturer, will look for a new owner in 2001 again. Let's bankruptcy proceedings should be completed by Mar 2003. Let has debts of nearly CEK 3.5 bil towards creditors. A total of 101 creditors registered their receivables for the bankruptcy proceedings. A big part of the firm's property has been pawned to the benefit of the state bank Konsolidacni banka (Czech Republic).

Financial management, Organizational history, Aircraft, Aircraft Manufacturing, Liabilities NEC, Financial assets, Let

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