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Duga Resa d.d. sold for 4.25 mn euros

20
May '10
A textile firm, Duga Resa d.d. of Pamucna Industrija has been sold to VIS T7 by Varazdin for 3.8 million kunas (4.25 million euros).

This bid is the highest-ever that the company has received so far and three times more than the initial price of 10 million kunas (1.38 million euros)

Also, it is the third time that Duga Resa was sold in a public auction, as the previous two deals did not concretize because the buyers, Konteks from Karlovac and Austrian Glastex had failed to make their payments before the set deadlines.

In all, the company had received four offers for purchase from prominent buyers, but VIS T7 outnumbered them and took over Duga Resa.

Fibre2Fashion News Desk - India


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