Belgrade-based "Futura plus" to take over all debts of "Duvankomerc" - 12.5m EUR

Belgrade-based company "Futura plus" will take over all debts of Podgorica's "Duvankomerca", it won't dismiss workers for three years and, during that time, it will maintain the company's activities and keep the minimum wage at 260 EUR.

People from the commission for sale of stocks of "Duvankomerc" announced that the future buyer of the Podgorica's company, the company owned by businessman Stanko Subotić, had agreed to fulfill all obligations.

- Negotiations about the elements of the contract on sale of 100% of stocks of "Duvankomerc" are close to end. We still need to agree on certain formal-legal issues - people from the authorized commission explained.

They announced that the sales contract would, most probably, be signed the next week, after the final version was forwarded to the Tender commission for appraisal. People in the commission claim that "Futura" accepted about 12.5m EUR worth of debt of "Duvankomerc" and that they believe that that obligation will be fulfilled since, if that fails to happen, "the creditors will stop the operations of the company".

- Part of the debt to "Tobacco Combine Podgorica" (DKP) will be settled by payment of 2.1m EUR for stocks. There is also a debt to workers that they accepted to settle - said the people from the commission.

Negotiations with "Futura plus" began after Croatian "Agrokor" gave up the takeover of "Duvankomerc" because the company of the richest Croat - Ivica Todorić, asked for the debts to be written off. "Agrokor" is the owner of the largest retail network in Montenegro - "Štampa". "Duvankomerc" has over 100 newsstands and warehouses with more than 405 workers.

Futura Plus d.o.o. Beograd

Duvanski kombinat a.d. Podgorica

RATTAN HAUS

Duvankomerc Podgorica

Stanko Subotić

Ivica Todorić