Azur Baia Mare takes out 5m-euro loan from BCR and BRD

Transportation company Azur Baia Mare will take out two loans worth a total of 5 million euros (from BRD and BCR) to guarantee two plots of land with a total surface area of 28,000 square metres, according to a general meeting of shareholders notice published on Tuesday in the Official Gazette. The first loan, worth 3 million euros, will be contracted from BRD Baia Mare by Complet Instalatii Montaj Proiect Baia Mare, a shareholder with a 42.9% share in Azur's capital. Azur will guarantee the loan with an approximately 6,300 square-metre plot of land. The second loan, worth two million euros, will be contracted from BCR Baia Mare and guaranteed with an approximately 22,100 square-metre plot of land, as well as a building, which houses servicing centres and the headquarters. The General Shareholders Meeting has been called for November 9, when a decision will be made on taking out and guaranteeing the loans.