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Signing of the agreement with Croatia

Media statement - dr. Imre Balogh, CEO of BAMC:

The entire project of restructuring Cimos was like a long-distance hurdle race. But in the end, we successfully cleared all obstacles. 

In the past weeks we polished out every last detail, so that all stakeholders could agree with the steps towards the final outcome. Thus, Cimos gained a new strategic owner last week, and today marks another key milestone by signing the purchase agreement for the claims of the Croatian state agency against Cimos. With signing the contract, the Croatian side has committed to withdraw the claim against Cimos, since the claim has been purchased by BAMC for 7 million EUR.

From this point forward, Cimos can fully focus on the future. The company got a solid ownership structure and sustainable clean financial and legal conditions, which provides long-term stability and a solid framework for future development.

The Cimos restructuring process is also proof that it is only through fruitful collaboration that the desired result on all levels can be reached. I would therefore like to sincerely thank the stakeholders who contributed to conclusion of this lengthy and highly complex process! Through constructive contributions of every party involved, we were able to reach an amicable overall solution.