The Tatra Works, which is drowning in debt, have to negotiate with loan banks once again. On March 26, a General Shareholders Meeting will be held to approve this.
CSOB and French Crédit Agricole Corporate and Investment Bank (formerly Calyon), which are the basis of available information, are asking more guarantees for their loans. Calyon already has Tatra real estate and shares in Tatra subsidiaries, but is expected to demand bigger gurantees.
Tatra has been hit hard by the World economic crisis and has not disclosed its 2009 figures but it’s obvious that once again the results have ended in a loss. Already in 2008 the results were heavily influenced by the strong Czech crown, soon followed by the crash of the global truck market.
Agenda extraordinary shareholders meeting: http://www.tatra.cz/web_cz/zajimavosti/val_hromada_2010.htm