SABAR, s. r. o.
SABAR got into difficulties after many years of successful operations, which were well diversified. These were mainly caused by the reduction in new oil and gas drilling activities in CEE, price pressure from alternative suppliers of baryte, especially from Morocco and Turkey, as well as general downturn in the construction industry. All of this pushed market prices of baryte down.
This was one of the most complex and challenging restructuring engagements carried out by DRS. Nevertheless, the formal restructuring, carried out under the watch of the court and trustee, resulted in the debt reduction of 65%, with the payment calendar of the remaining part spread over a period of five years.
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