Government of Serbia converting Tigar’s debt into permanent share

The company Tigar reported on Friday, September 16, that it had received the decision by the Government of Serbia on converting overdue and unpaid receivables of the state towards the Pirot-based company, based on public revenues, into a permanent share of the Republic of Serbia.

The Government’s decision, made at the September 13 session, also recommends to creditors partly owned by the state to convert their receivables towards Tigar into a permanent share in the entity’s capital.

This decision enables the realization of one of the measures envisioned by the final PPRP of Tigar AD, the company reports.

The general manager of Tigar, Branislav Curcic, estimated that the decision was very important to the company’s further operations and emphasized that the debt of around EUR 50 million from earlier periods was a great burden on the company’s operations.

Tigar also says that, with this decision, “the Government has recognized the effort made and the activities in the past four years, showing its readiness to support those business entities which make results, are export-oriented and employ a considerable number of people”.

Tigar a.d. Pirot

Vlada Republike Srbije

Tigar AD Pirot

Government of Serbia

debt conversion

Pre Packaged Reorganization Plan

PPRP