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The car industry supplier Cimos has avoided insolvency. The company's bank creditors have submitted a restructuring plan for Cimos to the Koper District Court.
The key deal includes a debt-to-equity conversion worth EUR 208m, which will be followed by privatisation. The restructuring plan also includes EUR 40m in liquidity funds.
The financial plan will serve as a basis for operative restructuring of Cimos, which is set to reduce the number of employees.
Translated by L.P. (RSi)
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