ZAGREB, Dec 3, 2020 – The government on Thursday gave the state-owned motorways operator HAC consent to take out a loan for the merger of the Rijeka-Zagreb Motorway (ARZ) operator with HAC.
The loan will be taken from the state-owned Croatian postal bank HPB, Croatian Bank for Reconstruction and Development (HBOR) and Zagrebacka Bankaand will be used to refinance two loans with German KfW IPEX Bank in the total amount of €120.9 million.
The government also gave a guarantee for the three banks to grant the new loan and preliminary consent for the final draft of the agreement for the merger of ARZ with HAC,
The government decided on the merger in May.
The Minister of the Sea, Transport and Infrastructure, Oleg Butkovic, said that the merger represented a continuation of the reform of the roads sector that began in 2017 with the aim of achieving a sustainable business model and optimising costs.
