Mytilineos May Write Off Half of RTB Bor’s Debt, Novosti Says

RTB Bor, Serbia’s sole copper producer, says Greece’s Mytilineos Holdings SA (MYTIL) agreed to write off half of its $65 million in claims toward the company, which will repay the rest by 2019, Vecernje Novosti reported, citing chief executive officer.

Mytilineos’s board of directors is expected to approve the arrangement, under which state-owned RTB Bor will start repaying the debt in 2014 after it opens a new smelter, the newspaper report said, quoting Blagoje Spaskovski.

To contact the reporter on this story: Misha Savic in Belgrade at msavic2@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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