Delta’s Slovenian job in jeopardy

Delta has yet to pay up the remaining money for the construction of a sports-shopping facility in Slovenia, leaving the project in jeopardy, says daily Finance. The Slovenian daily writes that a new partner could be sought to replace Delta in the deal, adding that the Ljubljana municipality would receive EUR 25 million by cashing in the banker’s guarantee it received from Grep, the Delta subsidiary responsible for the project. Delta’s Slovenian job in jeopardy Grep President Uros Ogrin said that without Delta owner Miroslav Miskovic’s money the project cannot be completed, adding that Delta had thus far paid EUR 5mn, leaving another EUR 15mn that was due to have been paid by the end of last year. Ogrin added that Delta acknowledged that it was having problems with receiving credit, Finance writes, adding that Miskovic would lose EUR 25mn if he pulled out of the project. Meanwhile, Ljubljana Mayor Zoran Jankovic explained that Delta had not paid the rest of the money “because of the situation on the financial market,” and that he did not know when it would be paid. He said that Miskovic had visited Ljubljana twice recently, adding that he was not concerned that Miskovic had not stumped up the cash for the current project, since he had already “put in a non-binding bid for Mercator as well.” The mayor said that Delta would have to pay a contractual fine of EUR 20mn if it backed out of the deal. However, Jankovic said that even if Delta did back out, Ljubljana would find another partner within three months to finish construction, for which the completion deadline is the middle of next year. Delta Owner Miroslav Miskovic (FoNet)

Delta’s Slovenian job in jeopardy

Grep President Uroš Ogrin said that without Delta owner Miroslav Mišković’s money the project cannot be completed, adding that Delta had thus far paid EUR 5mn, leaving another EUR 15mn that was due to have been paid by the end of last year.

Ogrin added that Delta acknowledged that it was having problems with receiving credit, Finance writes, adding that Mišković would lose EUR 25mn if he pulled out of the project.

Meanwhile, Ljubljana Mayor Zoran Janković explained that Delta had not paid the rest of the money “because of the situation on the financial market,” and that he did not know when it would be paid.

He said that Mišković had visited Ljubljana twice recently, adding that he was not concerned that Mišković had not stumped up the cash for the current project, since he had already “put in a non-binding bid for Mercator as well.”

The mayor said that Delta would have to pay a contractual fine of EUR 20mn if it backed out of the deal.

However, Janković said that even if Delta did back out, Ljubljana would find another partner within three months to finish construction, for which the completion deadline is the middle of next year.