LITHUANIA: Government to sell stake in Alytaus Textile
The Lithuanian government is to sell its majority stake in troubled yarn and fabric maker Alytaus Textile after failing to turn around its operations.
The firm was re-nationalised three years ago and despite an injection of LTL28m is now saddled with debts of LTL42m (US$16m).
The government owns a 69.56% share in the company which it wants to offload in the next two months.
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